Question
Can someone walk me through how I would enter this into the calculator TMV solver. Can it be done?
Jeremy has a balance owing of $4000 on his credit card. The credit-card company charges 18.0% annual interest, compounded monthly.
1.) If Jeremy makes payments of $300 every month, how much will he still owe after making 12 payments?
2.)Determine the monthly payment necessary to have the loan paid off in full after 12 payments.
Jeremy has a balance owing of $4000 on his credit card. The credit-card company charges 18.0% annual interest, compounded monthly.
1.) If Jeremy makes payments of $300 every month, how much will he still owe after making 12 payments?
2.)Determine the monthly payment necessary to have the loan paid off in full after 12 payments.
Answers
Reiny
i = .18/12 = .015
amount owing = 4000(1.015)^12 - 300[ 1.015^12 - 1]/.015
= .... you do the button - pushing
2. solve for 'paym'
4000 = paym [ 1 - 1.015^-12]/.015
paym = .... again, you do the button-pushing
amount owing = 4000(1.015)^12 - 300[ 1.015^12 - 1]/.015
= .... you do the button - pushing
2. solve for 'paym'
4000 = paym [ 1 - 1.015^-12]/.015
paym = .... again, you do the button-pushing
mary
Find an equation of the circle that satisfies the given conditions.
Endpoints of a diameter are
P(−2, 1) and Q(6, 7).
Endpoints of a diameter are
P(−2, 1) and Q(6, 7).