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

Can someone walk me through how I would enter this into the calculator TMV solver. Can it be done?

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 3:34pm
i = .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 11:32am
Find an equation of the circle that satisfies the given conditions.

Endpoints of a diameter are

P(−2, 1) and Q(6, 7).

## Answer this Question

## Related Questions

- math 20 - Jeremy has a balance owing of $4000 on his credit card. The credit-...
- Statistics - Help! - I really really need help with this. Can someone please ...
- Statistics - At 100 college campuses, 1200 full-time undergraduate students were...
- math - The unpaid balance of Dave's credit card is $295, and the finance charge ...
- math - Need help with math problem. Tom has an unpaid balance of $2,115.75 on ...
- consumer math - 1. Which of the following is an advantage of using credit cards...
- math - Phil had an unpaid balance of $1,854.50 on his credit card statement at ...
- math - Katie had an unpaid balance of $1,734.50 on her credit card statement at ...
- math - Question 12.12. Katie had an unpaid balance of $1,734.50 on her credit ...
- Probability - PLEASE HELP - From industry statistics, a credit card company ...

More Related Questions