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April 21, 2014

Homework Help: math 20 (finance)

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.

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