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Please help me to do this Instructions Lets assume that you racked up some credit card debt. 1.) You may work by yourself, with 1
Please help me to do this
Instructions Lets assume that you racked up some credit card debt. 1.) You may work by yourself, with 1 or 2 other people on this project. 2.) First, you must determine your balance. Pick a random number between 2000 and 4000. Use random.org to generate your debt. Include a screenshot of the number generator. 3.) Go find a credit card payoff calculator. You can find one at Bankrate or wallet hub. 4.) Choose your monthly payment. Different calculators work differently. Wallet hubs will tell you if the minimum payment you choose is too small. If you get such a message, pick a different payment. State your monthly payment. 5.) Let the APR vary between 15% and 20 % in increments of 0.5 %. Your interest rates will be 15%, 15.5%, 16%, 16.5%, etc. 6.) For each interest rate, take a screenshot of the calculator's results for each interest rate. This will be the tedious part. 7.) Using a graphing utility (Excel or Desmos recommended), make a graph of total interest paid vs. interest rate. 8.) Find a regression that best fits your graph. It can be linear, quadratic, cubic, quartic, power, exponential, or logarithmic. Don't start trying every regression. Think about the shape of your graph and choose an appropriate regression. 9.) Label your graphs. Put labels on the x and y axes and give it a title. Instructions Lets assume that you racked up some credit card debt. 1.) You may work by yourself, with 1 or 2 other people on this project. 2.) First, you must determine your balance. Pick a random number between 2000 and 4000. Use random.org to generate your debt. Include a screenshot of the number generator. 3.) Go find a credit card payoff calculator. You can find one at Bankrate or wallet hub. 4.) Choose your monthly payment. Different calculators work differently. Wallet hubs will tell you if the minimum payment you choose is too small. If you get such a message, pick a different payment. State your monthly payment. 5.) Let the APR vary between 15% and 20 % in increments of 0.5 %. Your interest rates will be 15%, 15.5%, 16%, 16.5%, etc. 6.) For each interest rate, take a screenshot of the calculator's results for each interest rate. This will be the tedious part. 7.) Using a graphing utility (Excel or Desmos recommended), make a graph of total interest paid vs. interest rate. 8.) Find a regression that best fits your graph. It can be linear, quadratic, cubic, quartic, power, exponential, or logarithmic. Don't start trying every regression. Think about the shape of your graph and choose an appropriate regression. 9.) Label your graphs. Put labels on the x and y axes and give it a titleStep by Step Solution
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