Suppose you owe $19,000 on a credit card that carries an APR of 24%. Because the balance is so high, you choose to stop charging and pay off the card. You can afford to make only the minimun monthly payment, which is 5% of the balance. Then your balance after t months is given by B= 19,000(1.02 x 0.95) dollars. How many payments will you have to make to get the balance below $400? (Enter the smallest such number of payments as an integer.) payments
Suppose you owe $19,000 on a credit card that carries an APR of 24%. Because the balance is so high, you choose to stop charging and pay off the card. You can afford to make only the minimun monthly payment, which is 5% of the balance. Then your balance after t months is given by B= 19,000(1.02 x 0.95) dollars. How many payments will you have to make to get the balance below $400? (Enter the smallest such number of payments as an integer.) payments
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 57SE: Karl has two years to save $10000 to buy a used car when he graduates. To the nearest dollar, what...
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![Suppose you owe $19,000 on a credit card that carries an APR of 24%. Because the balance is so high, you choose to stop charging and pay off the card. You can afford to make only the minimum
monthly payment, which is 5% of the balance. Then your balance after t months is given by
B = 19,000(1.02 x 0.95) dollars.
How many payments will you have to make to get the balance below $400? (Enter the smallest such number of payments as an integer.)
payments
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Read It](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe032c050-6a8e-4f45-857e-be5d57ddf5ae%2F79730a84-a4fa-40fb-8837-857b4b5c8168%2Frvb4lor_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Suppose you owe $19,000 on a credit card that carries an APR of 24%. Because the balance is so high, you choose to stop charging and pay off the card. You can afford to make only the minimum
monthly payment, which is 5% of the balance. Then your balance after t months is given by
B = 19,000(1.02 x 0.95) dollars.
How many payments will you have to make to get the balance below $400? (Enter the smallest such number of payments as an integer.)
payments
Need Help?
Read It
![Marginal cost is the additional cost imposed by the production of one additional item. Marginal benefit is the additional benefit of producing one additional item. For a certain company, the marginal
cost C, in dollars, if you are currently producing n items, is given by C(n) = 9+ n, and the marginal benefit B, in dollars, is given by B(n) = 35 x 0.7". Economic efficiency occurs at the production
level where marginal cost and marginal benefit are the same. What production level n gives economic efficiency for this company? (Round the function values to one decimal place. Assume only whole
items can be produced.)
n=
items
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Read It](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe032c050-6a8e-4f45-857e-be5d57ddf5ae%2F79730a84-a4fa-40fb-8837-857b4b5c8168%2Fzv0z8zh_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Marginal cost is the additional cost imposed by the production of one additional item. Marginal benefit is the additional benefit of producing one additional item. For a certain company, the marginal
cost C, in dollars, if you are currently producing n items, is given by C(n) = 9+ n, and the marginal benefit B, in dollars, is given by B(n) = 35 x 0.7". Economic efficiency occurs at the production
level where marginal cost and marginal benefit are the same. What production level n gives economic efficiency for this company? (Round the function values to one decimal place. Assume only whole
items can be produced.)
n=
items
Need Help?
Read It
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