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.

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.
28). To the nearest dollar, find the value of X that will hold the card balance steady at $1479 after interest.

Answer 1

we already did #27.

to retain that balance, just pay the 2% of $1479 each month.
.02 * 1479 = ____