1 Nancy makes a purchase of $711.37 c her bill by making payments of $25 pe 1.66% of the unpaid balance. Cmplete the table to determine her b Months Unpaid Interest Pa balance (1.66%) $711.37 $11.80 $25 $698.17 $11.58 $25 $25 $684.74 $11.36 $25 1234

Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter13: Sequences And Series
Section13.4: Mathematics Of Finance
Problem 19E: APPLICATIONS MortgageDr. Gupta is considering a 30-year mortgage at 6 interest. She can make...
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1
Nancy makes a purchase of $711.37 on her credit card. She plans to pay off
her bill by making payments of $25 per month. Monthly interest charges are
1.66% of the unpaid balance.
Cmplete the table to determine her balance after 4 months.
Months Unpaid Interest
Payment New balance
balance (1.66%)
1
$711.37 $11.80
$25
$698.17
$698.17 $11.58 $25
$684.74
$684.74 $11.36 $25
$25
2
3/4
Transcribed Image Text:1 Nancy makes a purchase of $711.37 on her credit card. She plans to pay off her bill by making payments of $25 per month. Monthly interest charges are 1.66% of the unpaid balance. Cmplete the table to determine her balance after 4 months. Months Unpaid Interest Payment New balance balance (1.66%) 1 $711.37 $11.80 $25 $698.17 $698.17 $11.58 $25 $684.74 $684.74 $11.36 $25 $25 2 3/4
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