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November 28, 2014

November 28, 2014

Posted by **Sandi** on Monday, October 18, 2010 at 2:49pm.

Jeremy has a balance owing of $4000 on his credit card. The credit-card company charges 18.0% annual interest, compounded monthly.

1.) If Jeremy makes payments of $300 every month, how much will he still owe after making 12 payments?

2.)Determine the monthly payment necessary to have the loan paid off in full after 12 payments.

- math 20 (finance) -
**Reiny**, Monday, October 18, 2010 at 3:34pmi = .18/12 = .015

amount owing = 4000(1.015)^12 - 300[ 1.015^12 - 1]/.015

= .... you do the button - pushing

2. solve for 'paym'

4000 = paym [ 1 - 1.015^-12]/.015

paym = .... again, you do the button-pushing

- math 1111 -
**mary**, Saturday, September 8, 2012 at 11:32amFind an equation of the circle that satisfies the given conditions.

Endpoints of a diameter are

P(−2, 1) and Q(6, 7).

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