Question

Jesse owes $8,473 on a credit card with a 21.5% interest rate. What is the monthly payment he should make to pay off this debt in 12 months, assuming he does not charge any more purchases with the card?

Answer 1

wait nvm i got it!! XDD yay!

Answer 2

What were your steps?

Answer 3

i plugged it into the formula for finding monthly payment which is: M= B i(1+i)^nt/ (1+i)^nt - 1

Answer 4

What was your answer?

Answer 5

What monthly payment should he make?

Answer 6

I calculated something, I just want to see if our answers agree

Answer 7

$790.99 :)

Answer 8

Hmmm. That's probably right, but I got something different

Answer 9

I got like 857.90

Answer 10

mhmmm thats not one of the choices o.O maybe you did something wrong like putting it in type thing

Answer 11

???

What type thing?

Answer 12

sometimes if you dont type it in step by step in the calculator it doesn't come out with the exact answer

Answer 13

I calculated it differently

Answer 14

ohhh okay