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WINSTONCH [101]
3 years ago
6

Please answer soon ty!

Mathematics
1 answer:
Hunter-Best [27]3 years ago
8 0

Answer:

A

Step-by-step explanation:

4.22

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You accumulated a balance of $2,300 on your credit card that carries an interest rate of 17%. You can't afford to pay the $2,300
4vir4ik [10]

Answer:

$1,591.67

Step-by-step explanation:

The computation of the balance after 5 years is shown below:

Given that

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r = Monthly interest amount = 17% ÷ 12 = 1.41666667%

M = Minimum payment = 2%

Now  

Balance on Credit Card after t year = P × (1+r) ×(1-M)

= $2,300 × (1+1.41666667%)^t × (1 - 2%)^t

= $2,300 × (0.993883337)^t

SO,

Balance on Credit Card after 5 years is

= $2,300 × (0.993883337)^60

= $2,300 × 0.692029437

= $1,591.66771

= $1,591.67

8 0
3 years ago
What is this and can some answer this quick
Licemer1 [7]
Ray!
Hope this helps
5 0
3 years ago
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