Yefim S. answered • 10/24/20

Math Tutor with Experience

To solve this problem I use Fin Solver of TI-84:

I set:

N = 0

I% = 14.99

PV = 2546.26

PMT = - 100

FV = 0

P/Y = 12

C/Y = 12

When run I get N = 30.84. So time t = 30.84 month

CHRISTIAN B.

asked • 10/24/20The annual interest rate on a credit card is 14.99%. If a payment of $100.00 is made each month, how many months will it take to pay off an unpaid balance of $2,546.26? Assume that no new purchases are made with the credit card.

It will take ________ months to pay off the unpaid balance.

(Do not round until the final answer. Then round up to the nearest integer as needed.)

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Yefim S. answered • 10/24/20

Tutor

5
(20)
Math Tutor with Experience

To solve this problem I use Fin Solver of TI-84:

I set:

N = 0

I% = 14.99

PV = 2546.26

PMT = - 100

FV = 0

P/Y = 12

C/Y = 12

When run I get N = 30.84. So time t = 30.84 month

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