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3. A person owes $1000 on a credit card that charges an
interest rate of 2% per month.
Complete this table showing the credit card balance
each month if they do not make any payments.
Give a rule
month
1
22
3
4
st
5
6
total bill in
dollars
7
8
1,000
1,020
1,040.40

Respuesta :

Parrain

The credit card balances in the months where the person does not make any payments are:

  • Month 1 = $1,020
  • Month 2 = $1,040.00
  • Month 3 = $1,061.21
  • Month 4 = $1,082.43

What are the credit card balances if the person doesn't pay?

The credit card balances per month will increase by 2% from the amount that was left unpaid from the previous month:

Month 1:

= 1,000 x (1 + 2%)

= $1,020

Month 2:

= 1,020 x (1 + 2%)

= $1,040.40

Month 3:

= 1,040.40 x (1 + 2%)

= $1,061.21

Month 4:

= 1,061.21 x (1 + 2%0

= $1,082.43

Find out more on credit card balances at https://brainly.com/question/6872962

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