SOLUTION: Anne borrows $1000 and agrees to pay $100 plus 1% interest if 1% on the unpaid balance each month. Find the payments for the first 6 months and the remaining debt at the end of th

SOLUTION: Anne borrows $1000 and agrees to pay $100 plus 1% interest if 1% on the unpaid balance each month. Find the payments for the first 6 months and the remaining debt at the end of th

Algebra.Com

Question 184172: Anne borrows $1000 and agrees to pay $100 plus 1% interest if 1% on the unpaid balance each month. Find the payments for the first 6 months and the remaining debt at the end of this period.
Answer by edjones(8007) (Show Source): You can put this solution on YOUR website!
100+1000*.01=110
100+900*.01=109
100+800*.01=108
+107+106+105
$400 balance at the end of 6 months.
.
Ed
RELATED QUESTIONS
Please Help. Solve Problem by writing the first few terms of a sequence. anne borrows... (answered by Theo)

Anne borrows $4000 and agrees to pay $500 plus interest of 2% on the (answered by Theo)

A woman borrows $1500, agreeing to pay $100 at the end of each month to reduce the... (answered by Theo,MathTherapy,ikleyn)

A person borrows $3,600 and agrees to repay the loan in monthly installments over a... (answered by jim_thompson5910)

You borrowed $500 from your parents to buy a computer. The arrangements of the loan are... (answered by richwmiller)

You borrow $5,000 from your parents to purchase a used car. The arrangements of the loan... (answered by Theo)

An individual borrows 5000 Ghana cedis, agreeing to reduce the principal by 200 Ghana... (answered by Theo)

kamal buys a washing machine for rs10000.he pays rs2000 in cash and agrees to pay the... (answered by Theo)

can someone show me how the book came to these answers. Problem#1 Stereo shack... (answered by stanbon)