Author Question: Your Office Supply has a 42,500 line of credit that charges an annual percentage rate of prime rate ... (Read 211 times)

laurencescou · **on:** Jun 24, 2018

Your Office Supply has a 42,500 line of credit that charges an annual percentage rate of prime rate plus 3. Their starting balance on March 1 was 10,600. On March 5, they borrowed 7,500. On March 14, the business made a payment of 3,300, and on March 18, they borrowed 5,300. If the current prime rate is 9, what is the new balance?
A) 26,100.00
B) 20,276.10
C) 27,583.43
D) 18,400.29

Question 2

Solve the equation for the unknown: 2B + 28 = 82