Westonci.ca is the Q&A platform that connects you with experts who provide accurate and detailed answers. Explore thousands of questions and answers from knowledgeable experts in various fields on our Q&A platform. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.
Sagot :
Answer:
c.
$475.67
Step-by-step explanation:
#4, #1, #3, #2
We will calculate the total amount for each of the credit card and then arrange them in descending order according to their interest after 36 months (3 years)
Interest on Credit card 1 =
= $2233
Interest on credit card 2 =
= $778
Interest on credit card 3 =
= $1656
Interest on credit card 4 =
= 2250
Hence the correct order to pay off all the credit card balances is
#4, #1, #3, #2
Her total monthly credit card payment will be $561.05.
Payment calculation
Given that Michelle has four credit cards with the balances and interest rates listed below, if Michelle wanted to pay off all four credit cards in 36 months, to determine what would her total monthly credit card payment be, calculate the total amount of each card of credit including interest, add all the amounts, and then divide the result by 36:
- (4,380 x (1 + 0.17 x 3) + 1,365 x (1 + 0.19 x 3) + 2,480 x (1 + 0.23 x 3) + 5,000 x (1 + 0.15 x 3)) / 36 = X
- (4380 x 1.51 + 1365 x 1.57 + 2480 x 1.69 + 5000 x 1.45) / 36 = X
- (6613.8 + 2143.05 + 4191.2 + 7250) / 36 = X
- 20198.05 / 36 = X
- 561.05 = X
Therefore, her total monthly credit card payment will be $561.05.
Learn more about calculus in https://brainly.com/question/26707195
We appreciate your time. Please revisit us for more reliable answers to any questions you may have. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Discover more at Westonci.ca. Return for the latest expert answers and updates on various topics.