Joel is considering putting a $2200 laptop purchase on his credit card, which has an interest rate of 3.7% compounded monthly. How long will it take him to pay off the purchase if he makes monthly payments of $35? Round your answer to the nearest tenth of a year.
Joel is considering putting a $2200 laptop purchase on his credit card, which has an interest rate of 3.7% compounded monthly. How long will it take him to pay off the purchase if he makes monthly payments of $35? Round your answer to the nearest tenth of a year.
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter2: Exponential, Logarithmic, And Trigonometric Functions
Section2.1: Exponential Functions
Problem 53E: Interest Ron Hampton needs to choose between two investments: One pays 6% compounded annually, and...
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Joel is considering putting a $2200 laptop purchase on his credit card, which has an interest rate of 3.7% compounded monthly. How long will it take him to pay off the purchase if he makes monthly payments of $35? Round your answer to the nearest tenth of a year.
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