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OpenStudy (anonymous):
Jerry owes $5700 to the bank at 2.5% compounded monthly. He can manage payments of $500 per month. How long will it take to pay off the debt?
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OpenStudy (anonymous):
2.5% times 5700=$142.50 per month 5700 divided by 500=11.4 months 11.4 times 142.50=1624.50 5700+1624.50=7324.50 7324.50 divided by 500=14.6months
OpenStudy (anonymous):
It had said on my paper to use the graphing calculator :( How would I do this using the TVM Solver?
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