ASsume that you have a balance of $2000 on your MasterCard ana that youmake ho more charges. Assume that MasteCard charges 12% APR and that each month you make only the minimum payment of 5% of the balance. Find a formula for the balance B after t monthly payments. (Enter numerical values to four decimal places.)

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A: solutionGivenInterest rate=2% per monthowes=1000$

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Q: Carlos Menton purchases a new laptop computer from Knox Computer Solutions for $1499. If the sales…

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