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Jill bought a $640 rocking chair. The terms of her revolving charge are 2% on the unpaid balance from the previous month. If she pays
Jill bought a $640 rocking chair. The terms of her revolving charge are 2% on the unpaid balance from the previous month. If she pays $100 per month, complete a schedule for the first 3 months. Be sure to use the U.S. Rule. (Round your final answers to the nearest cent.) |
Monthly payment number | Outstanding balance due | 2% interest payment | Amount of monthly payment | Reduction in balance due | Outstanding balance due |
1 | $ | $ | $ | $ | $ |
2 | $ | $ | $ | $ | $ |
3 | $ | $ | $ | $ | $ |
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