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Calculate the percentage of your final balance

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Given the following assumptions (principal = $350, APR compounded monthly = 6.50%, monthly payment = $40), calculate the percentage of your final balance after 36 months that is interest money only.

a. 10.12%

b.10.56%

c.10.96

d.9.95%

e.10.74

Reference no: EM13961570

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