trig help!?
Cici purchased $2000 worth of merchandise with her credit card this past month. then she was unexpectedly laid off from her job. she decided to make no more purchases with the card and to make only the minimum payment of $40 each month. her annual interest rate is 18%, compounded monthly.
a.)find the balance on her credit card over the next 6 months
b.)when will Cici pay off the total balance on her credit card?
c.)what is the total amount paid for the $2000 worth of merchandise?
Favorite Answer
this is because Cici starts with 2000 charge on her card, then that charge gets multiplied by 1.18 (basically, the original balance plus 18%) each month, so the exponent is 6 for 6 months.
b) solve the equation:
2000(1.18)^x=40x
where x is the number of months.
c) Once you have x, just multiply that by the amount she pays each month ($40).
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