You decide to quit using your credit card and want to pay off the balance of $9,600 in 4 years. Your interest rate is 19% compounded monthly. What will your monthly payments be? $4 How much interest do you pay?
You decide to quit using your credit card and want to pay off the balance of $9,600 in 4 years. Your interest rate is 19% compounded monthly. What will your monthly payments be? $4 How much interest do you pay?
Chapter1: Equations, Inequalities, And Mathematical Modeling
Section1.6: Other Types Of Equations
Problem 9ECP: You deposit $2500 in a long-term investment in which the interest is compounded monthly. After 5...
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Transcribed Image Text:You decide to quit using your credit card and want to pay off the balance of $9,600 in 4 years. Your interest
rate is 19% compounded monthly.
What will your monthly payments be?
How much interest do you pay?
%24
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