. With a beginning balance of $1200 and no additional charges during the next three months, you will just pay the ent each month for the next three months. The APR is 24.99% and the minimum payment each month is 3% of the he minimum payment all the time is great for the credit card company, but not so great for the user? re correct he credit card company because they make a lot of money since the minimum payment first pays off the interest and second reduces the for the user because most of what the user is paying goes towards interest.

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
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. With a beginning balance of $1200 and no additional charges during the next three months, you will just pay the
ent each month for the next three months. The APR is 24.99% and the minimum payment each month is 3% of the
he minimum payment all the time is great for the credit card company, but not so great for the user?
re correct
he credit card company because they make a lot of money since the minimum payment first pays off the interest and second reduces the
for the user because most of what the user is paying goes towards interest.
Transcribed Image Text:. With a beginning balance of $1200 and no additional charges during the next three months, you will just pay the ent each month for the next three months. The APR is 24.99% and the minimum payment each month is 3% of the he minimum payment all the time is great for the credit card company, but not so great for the user? re correct he credit card company because they make a lot of money since the minimum payment first pays off the interest and second reduces the for the user because most of what the user is paying goes towards interest.
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