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OlgaM077 [116]
3 years ago
9

Help me, please ;-; no links :))

Mathematics
2 answers:
pishuonlain [190]3 years ago
8 0

Answer:

the answer is b good luck

Alex17521 [72]3 years ago
3 0
Answer is B gl on ur test
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You have a credit card with a balance of $754.43 at a 13.6% APR. You have $300.00 available each month to save or pay down your
pochemuha
 <span>B(n) = A(1 + i)^n - (P/i)[(1 + i)^n - 1] 

where B is the balance after n payments are made, i is the monthly interest rate, P is the monthly payment and A is the initial amount of loan. 

We require B(n) = 0...i.e. balance of 0 after n months. 

so, 0 = A(1 + i)^n - (P/i)[(1 + i)^n - 1] 

Then, with some algebraic juggling we get: 

n = -[log(1 - (Ai/P)]/log(1 + i) 

Now, payment is at the beginning of the month, so A = $754.43 - $150 => $604.43 

Also, i = (13.6/100)/12 => 0.136/12 per month 

i.e. n = -[log(1 - (604.43)(0.136/12)/150)]/log(1 + 0.136/12) 

so, n = 4.15 months...i.e. 4 payments + remainder 

b) Now we have A = $754.43 - $300 = $454.43 so, 

n = -[log(1 - (454.43)(0.136/12)/300)]/log(1 + 0.136/12) 

so, n = 1.54 months...i.e. 1 payment + remainder 
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