Question

PLEASE HELP MEDAL AND FAN GIVEN: Suppose your credit card has a balance of $2600 and an annual interest rate of 18%. You decide to pay off the balance over three years. If there are no further purchases charged to
the card,
(a) How much must you pay each month?
(b) How much total interest will you pay?
Now suppose you instead get a bank loan at 10.5% with a term of four years. (c) How much will you pay each month? How does this compare with your credit-card payment?
(d) How much total interest will you pay? How does this compare with your credit-card interest?

Answer 1

A. you pay 1335 each month

Answer 2

can you explain how?

Answer 3

step by step please

Answer 4

You divide 2600 by 3 then tack on 18% of 2600 and that's your mthly payment amount

Answer 5

wait what you do mean by tack on?

Answer 6

can you not use slang and just explain it in pure English?

Answer 7

@antivenom

Answer 8

Add 18% of 2600 to your sum of 2600 divided by 3 and that's your total monthly payment amount

Answer 9

yeah

Answer 10

i already have the answers to the problem but i need help understanding how to solve it

Answer 11

(a) $94
(b) $784
(c) $67, which is a lower monthly payment
(d) $616, which is less interest.

Answer 12

here are the answers and what the guy told me to do is now what equals to the answer

Answer 13

ok do u still need hlep

Answer 14

yes i need help solving them and doing the work. i have a final exam tomorrow and i need to know how to do this not just the answer

Answer 15

ok u have the how much now wht is 18 of 2600

Answer 16

18 percent?

Answer 17

18% * 2600?

Answer 18

divide 2600 of 18 18divde 2600 then _ thats how u do it

Answer 19

2600/ 0.18

Answer 20

yae

Answer 21

14444.444444444444444444444444444

Answer 22

no the oppsite

Answer 23

multiple it?

Answer 24

468

Answer 25

no divde 2600 of 18

Answer 26

144.44444444

Answer 27

why aren't we diving it by 0.18?

Answer 28

that mitgh be it i get caon fased som times

Answer 29

what?

Answer 30

k