Math

When you use a credit card, you are charged interest each month on the balance in your account. You can use a spreadsheet to investigate the interest chargeed n a credit-card account. you use a credit card to buy a \$450 airline ticket. you are charged 1.8% monthly interest on your account balance, and you make a \$40 payment each month. Using a spreadsheet, ccreate a spreadsheet with the formulas shown in red.

A1: Month B1: Balance C1: Planned Monthly Payment D1: Interest E1:New Balance F1: Total interest
A2: 1 B2: 450 C2: (always 40) D2: B2*0.018 E2: =B2+D2-C2 F2: =D2
A3: =A2+1 B3: =E2 C3: 40 D3: B3*0.018 E3:=B3+D3-C3 F3: F2+D3

Please continue on till Month 12.

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