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Assume that you have a balance of $5500 on your Discover credit card and that you make no more charges. Assume that Discover charges 24%

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Assume that you have a balance of $5500 on your Discover credit card and that you make no more charges. Assume that Discover charges 24% APR and that each month you make only the minimum payment of 2.5% of the balance. Find a formula for the balance B after t monthly payments. eBook -/1 POINTS CRAUDQL3 4.4.019B. Assume that you have a balance of $5000 on your Discover credit card and that you make no more charges. Assume that Discover charges 24% APR and that each month you make only the minimum payment of 3% of the balance. What will the balance be after 32 months? (Round your answer to the nearest cent.) eBook -/1 POINTS CRAUDQL3 4.4.019C. Assume that you have a balance of $4500 on your Discover credit card and that you make no more charges. Assume that Discover charges 21% APR and that each month you make only the minimum payment of 3% of the balance. What will the balance be after 10 years? (Round your answer to the nearest cent.) eBook -/1 POINTS CRAUDQL3 4.4.024B. Assume that you have a balance of $4000 on your MasterCard and that you make no more charges. Assume that MasterCard charges 12% APR and that each month you make only the minimum payment of 4% of the balance. What will the balance be after 26 months? (Round your answer to the nearest cent.) eBook

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