regan
  • regan
Your credit card overdraft is $1500. The bank charges interest at a rate of 19% (continuous). If you do not spend on your credit card: (a) how much would the overdraft be after 3 years (if you did not pay off any of the debt)? (b) Suppose you did pay off the debt - how much would you have to pay off each year (continuously) to clear the debt in 3 years?
Mathematics
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

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regan
  • regan
Your credit card overdraft is $1500. The bank charges interest at a rate of 19% (continuous). If you do not spend on your credit card: (a) how much would the overdraft be after 3 years (if you did not pay off any of the debt)? (b) Suppose you did pay off the debt - how much would you have to pay off each year (continuously) to clear the debt in 3 years?
Mathematics
schrodinger
  • schrodinger
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At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

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regan
  • regan
a) $2652.4

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