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USPshnik [31]
3 years ago
15

Bridgette opened a store credit card to purchase a business suit for $463. She put the entire purchase on the credit card. Her A

PR is 14.99% and the minimum payment is 5%. Assuming she makes only minimum payments, what is the remaining balance on her card after 3 months? Can someone help me .
Mathematics
1 answer:
irinina [24]3 years ago
5 0
Begin by computing the <span>monthly interest rate like this:
</span>\frac{14.99}{12}=1.25
<span>Each month, we have to substract from $463 the monthly rate and the payment of 5%, which result in the following formula:
</span>463(1-(0.05+0.0125))^3=463\times0,9375^3\\=381.5
<span>
So, after three months, it ill remains $381.5 in </span><span>Bridgette account. </span>
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