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Author Question: Use PMT = to determine the regular payment amount, rounded to the nearest dollar. Suppose your ... (Read 205 times)

JMatthes

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on: Feb 2, 2020
Use  PMT = to determine the regular payment amount, rounded to the nearest dollar.

Suppose your credit card has a balance of $6500 and an annual interest rate of 14%. You decide to pay off the balance over three years. If there are no further purchases charged to the card,
  (a) How much must you pay each month?
  (b) How much total interest will you pay?
Now suppose decide to pay off the balance over one year rather than three.
  (c) How much more must you pay each month?
  (d) How much less will you pay in total interest?
◦ (a) $231
(b) $604
(c) $361 more per month;
(d) $1212 less in total interest
◦ (a) $222
(b) $508
(c) $362 more per month
(d) $984 less in total interest
◦ (a) $222
(b) $1492
(c) $362 more per month
(d) $984 less in total interest
◦ (a) $231
(b) $1816
(c) $361 more per month;
(d) $1212 less in total interest
Thinking Mathematically ¦ Blitzer ¦ 6th Edition
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Marked as best answer by JMatthes on Feb 2, 2020

asdfasdf

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Reply #1 on: Feb 2, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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JMatthes

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Reply 2 on: Feb 2, 2020
Great answer, keep it coming :)

Viet Thy

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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