Use PMT = ot; to determine the regular payment amount, rounded to the nearest dollar....
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Use PMT = ot; to determine the regular payment amount, rounded to the nearest dollar. Your credit card has a balance of $3900 and an annual 11-11+5)*7 interest rate of 12%. You decide to pay off the balance over two 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? a. The monthly payments are approximately $ (Do not round until the final answer. Then round to the nearest dollar as needed.) 1. b. The total interest paid over 2 years is approximately $ (Round to the nearest dollar as needed.)
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