Here's the question you clicked on:

55 members online
  • 0 replying
  • 0 viewing

AGummiBear55

  • 3 years ago

Max has a credit card with an APR of 26.2% compounded monthly. His previous balance was $1,780. If he makes a payment of $123 this month, what is the new balance on his credit card?

  • This Question is Closed
  1. dumbcow
    • 3 years ago
    Best Response
    You've already chosen the best response.
    Medals 2

    \[= 1780(1 + \frac{.262}{12}) -123\]

  2. AGummiBear55
    • 3 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    so... the answer is 1695.86, right? :D THANK YOU!!!

  3. dumbcow
    • 3 years ago
    Best Response
    You've already chosen the best response.
    Medals 2

    yep....yw

  4. 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