You have a credit card with an initial balance of $3,168.00 and an interest rate of 12.75% apr. if you make no payments on the c
ard for three months, how much is your balance by the end of the third month? $3,860.43 $3,270.06 $3,201.66 $3,571.92
2 answers:
A=p(1+i/m)^mn
P=3168
i=0.1275
M=12
n=3/12
A=3,168×(1+0.1275÷12)^(12*3/12)
A=3,270.06
Answer:
Your balance by the end of the third month is $3270.06
Step-by-step explanation:
We are given
P=$3168

n=3
now, we can use formula

now, we can plug values


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