Your credit card has a balance of ​$4200 and an annual interest rate of 13​%. You decide to pay off the balance over four years. If there are no further purchases charged to the​ card, you must pay ​$112.70 each​ month, and you will pay a total interest of ​$1209.60. Assume you decide to pay off the balance over one year rather than four. How much more must you pay each month and how much less will you pay in total​ interest? A. You will pay ​$__ more each month. B. You will pay ​$__ less each month.

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A: option b is correct  at the end of 15 years Miroslava have balance $175,500.40 using the formula for…

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A: purchase made A= $3500 monthly payments m= $300 Amount made during the first year (11 payments)…

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A: Present value = future value/(1+r/m)^(m*n) Given  Future value =$30000 r=10%  n=5 years m=12

Q: loan

A:

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