3.5:8 in decimal form
2 answers:
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Part 1:
The table showing the decreasing debt is shown as follows:
![\begin{tabular} {|c|c|c|c|} Starting Balance&Interest Accrued&Payment&Closing Balance\\[1ex] \$1,853.42&\$22.39&\$400&\$1,475.81\\\$1,475.81&\$17.83&\$400&\$1,093.64\\\$1,093.64&\$13.21&\$200&\$906.85\\\$906.85&\$10.96&\$200&\$717.81\\\$717.81&\$8.67&\$200&\$526.48\\\$526.48&\$6.36&\$200&\$332.84\\\$332.84&\$4.02&\$200&\$136.86\\\$136.86&\$1.65&\$138.51&- \end{tabular}](https://tex.z-dn.net/?f=%5Cbegin%7Btabular%7D%0A%7B%7Cc%7Cc%7Cc%7Cc%7C%7D%0AStarting%20Balance%26Interest%20Accrued%26Payment%26Closing%20Balance%5C%5C%5B1ex%5D%0A%5C%241%2C853.42%26%5C%2422.39%26%5C%24400%26%5C%241%2C475.81%5C%5C%5C%241%2C475.81%26%5C%2417.83%26%5C%24400%26%5C%241%2C093.64%5C%5C%5C%241%2C093.64%26%5C%2413.21%26%5C%24200%26%5C%24906.85%5C%5C%5C%24906.85%26%5C%2410.96%26%5C%24200%26%5C%24717.81%5C%5C%5C%24717.81%26%5C%248.67%26%5C%24200%26%5C%24526.48%5C%5C%5C%24526.48%26%5C%246.36%26%5C%24200%26%5C%24332.84%5C%5C%5C%24332.84%26%5C%244.02%26%5C%24200%26%5C%24136.86%5C%5C%5C%24136.86%26%5C%241.65%26%5C%24138.51%26-%0A%5Cend%7Btabular%7D)
The column for interest accrued is obtained by the folmular
where P is the month's starting balance.
Part 2:
From the table, the last payment is $138.51
Part 3:
The total amount paid by the time the credit card is payed of is the summation of the "payment" column of the table.
Thus, the total amount is given by:
Part 4:
The debt ratio is given by
The table showing the decreasing debt is shown as follows:
The column for interest accrued is obtained by the folmular
where P is the month's starting balance.
Part 2:
From the table, the last payment is $138.51
Part 3:
The total amount paid by the time the credit card is payed of is the summation of the "payment" column of the table.
Thus, the total amount is given by:
Part 4:
The debt ratio is given by