A community for students.
Here's the question you clicked on:
 0 viewing
anonymous
 4 years ago
Suzy uses a credit card to buy a $ 2000 LCD TV at 18% ,if the interest is compounded monthly , and she make no payments , how much will end up owing after 2 years ? (When does this type of thing happen?)
anonymous
 4 years ago
Suzy uses a credit card to buy a $ 2000 LCD TV at 18% ,if the interest is compounded monthly , and she make no payments , how much will end up owing after 2 years ? (When does this type of thing happen?)

This Question is Closed

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0This sounds like a deferment plan. Using the compound formula should suffice. A=P(1+r/n)^nt Remembering to change th18% into decimal form. 0.18

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0she make no payments ,and use the same fourmula?

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0including the minimum monthly payments?

anonymous
 4 years ago
Best ResponseYou've already chosen the best response.0Suzy will end up oweing: 2000 x (1.18)^24. 1.18 being the interest factored in. and 24 being the number of months. What do u mean when u ask "When does this type of thing happen?"
Ask your own question
Sign UpFind more explanations on OpenStudy
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.