A community for students.
Here's the question you clicked on:
 0 viewing
clamin
 one year ago
PLEASE HELP!! MEDAL!!
Many credit card companies charge a compound interest rate of 1.8% per month on a credit card balance. Miriam owes $750 on a credit card. If she make no purchase or payments, she will go more and more into debt. Which of the following sequences best describes her increasing monthly balances??
a.750.00, 763.50, 777.24, 791.23, 805.48
b.750.00, 885.00, 1,044.30, 1,232.27, 1,454.08..
c.750.00, 885.00, 1,044.30, 1,132.27, 1,354.08..
d. 750.00, 763.50, 777.44, 791.83, 806.68,..
e.750.00, 750.18, 750.36, 750.54, 750.72,...
clamin
 one year ago
PLEASE HELP!! MEDAL!! Many credit card companies charge a compound interest rate of 1.8% per month on a credit card balance. Miriam owes $750 on a credit card. If she make no purchase or payments, she will go more and more into debt. Which of the following sequences best describes her increasing monthly balances?? a.750.00, 763.50, 777.24, 791.23, 805.48 b.750.00, 885.00, 1,044.30, 1,232.27, 1,454.08.. c.750.00, 885.00, 1,044.30, 1,132.27, 1,354.08.. d. 750.00, 763.50, 777.44, 791.83, 806.68,.. e.750.00, 750.18, 750.36, 750.54, 750.72,...

This Question is Closed

campbell_st
 one year ago
Best ResponseYou've already chosen the best response.2well to find the balance in the 2nd month is will be balance2 = 750 x 1.8/100 then for the 3rd month, take the balance and apply the same calculation balance2 = balance1 x 1.8/100 just keep repeating the process

campbell_st
 one year ago
Best ResponseYou've already chosen the best response.2that is the answer I would have chosen... 2% of 750 is $15 so 1.8% is a little less 750 + 15 = $765

Deadly_Roses
 one year ago
Best ResponseYou've already chosen the best response.0i would say A also....
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.