assume you have a balance of $3000 on your discover card and thay you make no more charges. assume the discover charges 21% APR and that each month you make only the minimum payment of 2% of the balance.

on what balance do you begin making payments of $50 or less?

Veek 7: Written Work Submission he goal of this assignment is for you to work with paying off a credit card. ere's what you will need to do: 1. On a blank piece of paper write your name and course information at the top. 2. Complete Section 4.4 problem #25 from the text. Be sure that your work is clea asked in complete sentences. 25. Paying off a Discover card. Assume that you have a balance of $3000 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 2% of the balance. a. Find a formula for the remaining balance after t monthly payments. BE b. On what balance do you begin making payments of $50 or so less? c. Find how many months it will take to bring the remaining balance down to the value from part b. 3. Scan your work to a single PDF file. 4. Upload your PDF to HFC Online. The Assignment grading: 1 point for correctly identifying the equation. 1 point for correctly calculating the balance necessary for a minimum payment of $50 or le . 1 point for correctly calculating the number of payments need to bring down the balance . Submission status Balance = 3000x(1.0175X0.9: 82500 Veek 7: Written Work Submission he goal of this assignment is for you to work with paying off a credit card. ere's what you will need to do: 1. On a blank piece of paper write your name and course information at the top. 2. Complete Section 4.4 problem #25 from the text. Be sure that your work is clea asked in complete sentences. 25. Paying off a Discover card. Assume that you have a balance of $3000 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 2% of the balance. a. Find a formula for the remaining balance after t monthly payments. BE b. On what balance do you begin making payments of $50 or so less? c. Find how many months it will take to bring the remaining balance down to the value from part b. 3. Scan your work to a single PDF file. 4. Upload your PDF to HFC Online. The Assignment grading: 1 point for correctly identifying the equation. 1 point for correctly calculating the balance necessary for a minimum payment of $50 or le . 1 point for correctly calculating the number of payments need to bring down the balance . Submission status Balance = 3000x(1.0175X0.9: 82500