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1, (12 points) A student charges $1200 on her credit card for a trip to Hawaii during spring break. She is charged 18% annual interest
1, (12 points) A student charges $1200 on her credit card for a trip to Hawaii during spring break. She is charged 18% annual interest (1.5% interest per month). She makes monthly payments of P dollars to pay off the charges on her credit card. a) Describe a discrete dynamical system that allows her to compute anamount owed on her credit card at the end of month n. b) Assuming she doesn't make any additional charges on her credit card during the next year, how big does P have to be so that the charge is paid off after 12 monthly payments
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