+0  
 
0
121
3
avatar

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.)

Guest Mar 29, 2018
 #1
avatar
0

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!

Guest Mar 29, 2018
 #3
avatar
0

See explanation of how it should be calculated, under your $5,000 question, after I figured out how the question should have been posted.

Just copy the same method and change the figures.

Guest Mar 29, 2018

11 Online Users

New Privacy Policy

We use cookies to personalise content and advertisements and to analyse access to our website. Furthermore, our partners for online advertising receive information about your use of our website.
For more information: our cookie policy and privacy policy.