Frog's Leap Vineyards Has a $45,000 Line of Credit Which

question 17

Short Answer

Frog's Leap Vineyards has a $45,000 line of credit which charges an annual percentage rate of prime rate plus 6.5%. The starting balance on March 1 was $4,200. On March 8, they made a payment of $2,000, and on March 16, they borrowed $4,400. If the current prime rate is 10%, what is the new balance?

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Definitions:

Double-Precision Variable

A type of variable in programming that can store decimal numbers with double the precision of a float, allowing for more accurate calculations.

Scanf

A standard library function in C used to read formatted input from stdin.

LISP Language

A high-level programming language known for its symbolic expression processing, used extensively in artificial intelligence and computational linguistics.

Bound Checks

The safety measures implemented in code to verify that indices or keys are within the allowed range for data structures to prevent errors or breaches.