(Answered) Suppose that on january 1 you have a balance of 4100 on a

Statistics

Suppose that on January 1 you have a balance of ?$4100 on a credit card whose APR is 18%, which you want to pay off in 1 year. Assume that you make no additional charges to the card after January 1.

a. Calculate your monthly payments.

b. When the card is paid? off, how much will you have paid since January? 1?

c. What percentage of your total payment from part? (b) is? interest?

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