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Math Question?
$2,000 on it in order to pay for their spring break trip. The credit card has an interest rate of 24.99%, and the interest is compounded monthly. If the student doesn’t make any payments for the first 9 months that they have the credit card, what will be the balance on the card rounded to the nearest penny? Use either A=P(1+rn)nt or A=Pert.
4 Answers
- EvaLv 72 weeks ago
If they haven't made any payments in 9 months the card would have been closed and turned over to collections. This is a stupid question.