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What is the new balance on the credit card

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Reference no: EM132729594

Problem 1: Jakob has a previous balance of $861 on a credit card with a 20.8% APR compounded monthly. If he made a payment of $73 this month, what is the new balance on his credit card?

A. $1,040.09

B. $967.09

C. $802.92

D. $788.00

Reference no: EM132729594

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