Here's the question you clicked on:

55 members online
  • 0 replying
  • 0 viewing

JamenS

  • 3 years ago

More than 1 billion credit cards are in circulation in the United States. Many credit cards charge an annual percentage rate (APR) of 18.3%. The average American carries a credit card debt of approximately $8,600. Analyze and answer the following questions related to these facts and using what you learned in this lesson. 1. For a certain credit card, the total amount, A ,that a customer owes is given by the following formula. In the formula, P is the starting balance and n is the number of months of debt, assuming interest is compounded monthly. Suppose you begin with a credit card debt of

  • This Question is Closed

    Not the answer you are looking for?
    Search for more explanations.

    • Attachments:

Ask your own question

Sign Up
Find more explanations on OpenStudy
Privacy Policy