A credit card offers no interest no payments for 12 months. You make a purchase of $3500. You make monthly payments of $300 during the first year. In order to avoid an interest penalty, what would your 12th payment need to be?

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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A credit card offers no interest no payments for 12 months. You make a purchase of $3500. You make monthly payments of $300 during the first year. In order to avoid an interest penalty, what would your 12th payment need to be?

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