Question

Kayla has a balance of $1479 on her credit card. Since she is unable to pay off the balance in full at the end of the month, the credit card company will charge her 2% interest per month on the outstanding balance at the end of each month. She plans on paying $X each month until the card is paid off in full.

27). Write a recursive rule for Kayla's credit card balance, An, after the credit card company charges her the monthly interest.

Answer 1

A1 = 1479

An = A(n-1) * 1.02