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
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.
2 answers
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).