anonymous
  • anonymous
Please Please PLEASE help? Jesse owes $8,473 on a credit card with a 21.5% interest rate. What is the monthly payment he should make to pay off this debt in 12 months, assuming he does not charge any more purchases with the card? $790.99 $706.08 $164.57 $2,016.54
Mathematics
schrodinger
  • schrodinger
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anonymous
  • anonymous
I think £857.89 a month
anonymous
  • anonymous
the 21.5 interest is 1,821.695 then I add it to the original amount ( 8473+1,821.695=10294.695) then i divide 10294.695 by 12 which is 857.89125
anonymous
  • anonymous
It can't be because my only choices are $790.99 $706.08 $164.57 $2,016.54

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anonymous
  • anonymous
I'm so confused.
anonymous
  • anonymous
i'm confused too now :D
anonymous
  • anonymous
Great! Well at least were confused together. (:
anonymous
  • anonymous
:D then maybe it's 790.99
anonymous
  • anonymous
but i'm still not sure :D
anonymous
  • anonymous
How so?
anonymous
  • anonymous
i was thinking what if that 21.5% not included in the 12 months payment?
anonymous
  • anonymous
i'm just guessing :D
anonymous
  • anonymous
Yeah... I think that's it!!! :D Thanks!!
anonymous
  • anonymous
no prob :)

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