There is a $1500 carry-over balance on a credit card with a 19.99% APR and a minimum payment of 6% of the new balance each month. Assume only the minimum payment is made and no additional payments are made each month. (All questions in this assignment are based on this information.)

What is the finance charge this first month?

where are the graphs?

step-by-step explanation:

step-by-step explanation:

step-by-step explanation:

this can be solved first with pythagorean theorem, which tells us to square both legs of the triangle and sum it. this will be equal to the square of the hypotenuse.

the hypotenuse is the side "opposite" the 90 degree angle, which is x.

so we can write using pythagorean theorem,

simplifying:

to further simplify this radical, we need to use the property  

thus