Question

You owe $300.00 on your credit card. Each month you fail to make a payment, your balance increases by 2%. how much will you owe after 2 years of missing payments?

Answer 1

Okay, here is what I got:

2% of 300 is $6

2 years is 24 months

6 times 24 is 144

300+144= $444

Answer 2

got it awhile ago. (300) (1.02)to the 24th power. equal $482.53. thanks