London owes $7,000 on her credit card. The bank charges an annual interest rate of 16.8%, compounded monthly. If London wants to pay off her credit card using equal monthly payments over the next 18 months, what would the monthly payment be, to the nearest dollar? Pr M = 1– (1+r)-n M = the monthly payment P = the amount owed r = the interest rate per month n = the number of payments

London owes $7,000 on her credit card. The bank charges an annual interest rate of 16.8%, compounded monthly. If London wants to pay off her credit card using equal monthly payments over the next 18 months, what would the monthly payment be, to the nearest dollar? Pr M = 1– (1+r)-n M = the monthly payment P = the amount owed r = the interest rate per month n = the number of payments

Name: London owes $7, 000 on her credit card.The bank charges an annual int
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Description: London owes $7, 000 on her credit card.The bank charges an annual interest rateof 16.8%, compounded monthly. If Londonwants to pay off her credit card usingequal monthly payments over the next 18months, what would the monthly paymentbe, to the neare

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter7: Systems Of Equations And Inequalities

Section7.2: Systems Of Linear Equations: Three Variables

Problem 63SE: You inherit one million dollars. You invest it all in three accounts for one year. The first account...

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