Page 1 of 1
Use PMT =[1−(1+nr)−nt]P(nr) to determine the regular payment amount, rounded to the nearest dollar. Your credit card
Posted: Tue Jul 12, 2022 12:46 pm
by answerhappygod
- Use Pmt 1 1 Nr Nt P Nr To Determine The Regular Payment Amount Rounded To The Nearest Dollar Your Credit Card 1 (98.79 KiB) Viewed 41 times
Use PMT =[1−(1+nr)−nt]P(nr) to determine the regular payment amount, rounded to the nearest dollar. Your credit card has a balance of $3600 and an annual interest rate of 13%. You decide to pay off the 1 point(s) possible a. How much must you pay each month? b. How much total interest will you pay? a. The monthly payments are approximately : (Do not round until the final answer. Then round to the nearest dollar as needed.) b. The total interest paid over 5 years is approximately : (Round to the nearest dollar as needed.)