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Question 8
Suppose you pay the minimum payment on your credit c...
Mathematics, 17.02.2021 20:50 nathangirnet
2 Points
SHORT ANSWER
Question 8
Suppose you pay the minimum payment on your credit card by
the due date, leaving an outstanding balance of $1,359. The in-
terest rate on your card is 24.45% APR. If you intend to pay off
the balance on the card in 1 month, what will the balance be at
that point? Assume the account compounds daily.
Answers: 3
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