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Many credit card companies charge a compound interest rate of 1.8% per month on a credit card balance. Miriam owes $750 on a credit card. If she makes no purchases or payments, …

Many credit card companies charge a compound interest rate of 1.8% per month on a credit card balance. Miriam owes $750 on a credit card. If she makes no purchases or payments, …
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Many credit card companies charge a compound interest rate of 1.8% per month on a credit card balance. Miriam owes $750 on a credit card. If she makes no purchases or payments, she will go more and more into debt. Which of the following sequences describes her increasing monthly balance?

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User Rob Bowman
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2 Answers

2 votes
This could be incorrect but I got $416
answered
User Tovishalck
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8.4k points
7 votes

Answer: 750.00, 763.50, 777.24, 791.23, 805.48

Explanation:

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User Jason Braucht
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8.3k points
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