Answered

Find the best solutions to your questions at Westonci.ca, the premier Q&A platform with a community of knowledgeable experts. Join our platform to get reliable answers to your questions from a knowledgeable community of experts. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.

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 visiting our platform. We hope you found the answers you were looking for. Come back anytime you need more information. We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. Discover more at Westonci.ca. Return for the latest expert answers and updates on various topics.