Suppose you owe $700 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 4% of the total (balance plus interest), your balance after t months is given by B(t) = 700(0.9792'). Find your balance at each of the given times. Complete parts (a) through (e) below. (a) six months After six months, the balance is $ (Round to the nearest cent as needed.)
Suppose you owe $700 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 4% of the total (balance plus interest), your balance after t months is given by B(t) = 700(0.9792'). Find your balance at each of the given times. Complete parts (a) through (e) below. (a) six months After six months, the balance is $ (Round to the nearest cent as needed.)
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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