Answered

Get the answers you need at Westonci.ca, where our expert community is always ready to help with accurate information. Get immediate and reliable solutions to your questions from a knowledgeable community of professionals on our platform. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

Dustin bought a $2000 computer with a credit card.The minimum payment each month is $35.Each month 1% of the unpaid balance is added to the amount he owes.
If Dustin pays only $35 the first month, what will he owe the second month?
If Dustin makes the minimum payment, what will he owe the third month?

Sagot :

arewar
2nd month: (2000 - 35) 1.01 = 1984.65

3rd month: (1984.65 - 35) 1.01 = 1969.15

francocanacari

Answer:

Dustin bought a $2,000 computer with a credit card, and paid the $35 minimum payment in the first month, thus leaving an unpaid balance of $1,965 (2,000 - 35). As each month 1% of the unpaid balance is added to the owed amount, next month he will have to pay $1,984.65 (1,965 + 1,965/100).

If also the following month he paid the minimum $35 payment, he would leave an unpaid balance of $1,949.65 (1,984.65 - 35). As a result, the third month he will have to pay $1,969.14 (1,949.65 + 1,949.65/100).

Thank you for your visit. We are dedicated to helping you find the information you need, whenever you need it. We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. We're dedicated to helping you find the answers you need at Westonci.ca. Don't hesitate to return for more.