Answer:
monthly payment = (total amount owing+interest to be paid) / 12 months
Explanation:
Monthly repayments include the total amount owing on the credit card, plus the interest to be paid. This amount should then be divided into 12 monthly payments in order to get one constant amount to be paid each month for the 12 month period. We will assume there are no other factors affecting the amount, other than interest.
The formula to calculate the monthly repayments in the credit card is as follows:
(total amount owing + interest) / 12 months
For example, say the amount owing was $100 and the total interest to be paid was $20; the monthly repayment would be calculated as ($100+ $20) / 12 months. This would mean the credit card holder pays $120/12 = $10 per month in order to repay the debt.
In this video, kevin describes ERP as a set of integrated software modules that support nearly all of their organization's business processes.
A business is an activity that makes a living or makes money by manufacturing or buying and selling products. It is also "any activity or business carried on for profit."
A company is an organization or company engaged in commercial, industrial, or professional activities. A business can be either a commercial enterprise or a non-profit organization. Legal forms range from limited liability companies to sole proprietorships, corporations and partnerships.
The definition of business is the profession or trade, the buying and selling of goods or services for profit. A business example is agriculture. An example of a transaction is the sale of a home. noun.
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