Assume that you have a balance of $3000 on your Discover credit card and that you make no more charges. Assume that Discover charges 18% APR and that each month you make only the minimum payment of 2% of the balance.
Find a formula for the remaining balance B after t monthly payments. (Enter numerical values to five decimal places.)
Use exactly the same procedure as in your last question about $5,000 credit card loan.
All you have to do is to change the numbers and copy everything else exactly the same!