elijaahstepp041
13.01.2020 •
Mathematics
Billy has a credit card with a current balance of $3,500 and a 16% apr. with his current monthly payment, he will be able to pay off this debt in 15 months. but billy just learned that he is getting a raise at work. if he puts all of the extra income from his raise into his monthly credit card payment, how much additional monthly income would he require from his raise to pay off the credit card in 12 months?
a.
$58.57
b.
$171.37
c.
$258.99
d.
$317.56
Solved
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Ответ:
Solve for x
X=317.56
Now for 15 months
3500=X[((1-(1+0.16/12)^(-15))/(0.16/12)]
Solve for x
X=258.99
The difference between the answers
317.56-258.99=58.57...is your answer
Hope it helps
Ответ:
4/3( x + 8 ) = 24