Suppose you owe $400 on your credit card and you decide to make no new purchases and to make the minimum monthly payment on the account. Assuming that the interest rate on your card is 2% per month on the unpaid balance and that the minimum payment is 3% of the total (balance plus interest), your balance after t months is given by B(t)=400(0.9894t). Find your balance at each of the given times. Complete parts (a) through (b) below. (a) six months After six months, the balance is $. (Round to the nearest cent as needed.) (b) five yearsAfter five years, the balance is $. (Round to the nearest cent as needed.)
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
Suppose you owe
$400
on your credit card and you decide to make no new purchases and to make the minimum monthly payment on the account. Assuming that the interest rate on your card is
2%
per month on the unpaid balance and that the minimum payment is
3%
of the total (balance plus interest), your balance after t months is given by
B(t)=400(0.9894t).
Find your balance at each of the given times. Complete parts (a) through (b) below.
(a) six months
After six months, the balance is
$.
(Round to the nearest cent as needed.)
(b)
five
yearsAfter
five
years, the balance is
$.
(Round to the nearest cent as needed.)
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