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Mathematics 10 Online
OpenStudy (anonymous):

Half-life and Compound Interest, PLEASE HELP! a) You are borrowing $10,000 on a certain credit card, with 12.75% fixed APR, the interest is compounded daily. Suppose you stop using this credit card and you can't afford any pay back at the moment. Compute the interest owed after 1 month. b) You are borrowing $10,000 on a certain credit card, with 12.75% fixed APR, the interest is compounded continuously. suppose you stop using this credit card and you can't afford any pay back at the moment. Can you compute time, in terms of number of months, it takes your debt to become $12,000?

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