Rodney Owes $1,541.05 On His Credit Card. His Card Has An Apr Of 16.29%, Compounded Monthly. Assuming That He Makes No Payments And No Purchases, How Much Will He Owe After One Year?

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Rodney Owes $1,541.05 On His Credit Card. His Card Has An Apr Of 16.29%, Compounded Monthly. Assuming That He Makes No Payments And No Purchases, How Much Will He Owe After One Year?. His card has an apr of 16.29%, compounded monthly. In this solution, we will determine the.

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A credit card balance after one year can be calculated using the formula: Use the following compound interest formula to complete the problem. A=p1+ r/n nt rodney owes $ 1,541.05 on his credit card.

His Card Has An Apr Of 16.29% , Compounded Monthly.


In this solution, we will determine the. A = p (1 + n r ) n × t. To find out how much rodney will owe after one year on his credit card, let's use the compound interest formula:

Assuming That He Makes No Payments And No Purchases, How Much.


Use the following compound interest formula to complete the problem. A=p(1+(r)/(n))^(n) rodney owes $1.541.05 on his credit card. Use the following compound interest formula to complete the problem.

His Card Has An Apr Of 16.29%, Compounded Monthly.


A credit card balance after one year can be calculated using the formula: A is the amount rodney will owe. To calculate how much rodney will owe on his credit card after one year with an apr of 16.29% compounded monthly, we can use the compound interest formula:

Assuming That He Makes No Payments And No Purchases, How Much Will He Owe After One Year?


A=p1+ r/n nt rodney owes $ 1,541.05 on his credit card. Balance after one year = initial balance * (1 + (apr/100))^n, where n is the number of compounding periods in a year. His card has an apr of 16.29%, compounded monthly.

A=P1+ R/N Nt Rodney Owes $ 1,541.05 On His Credit Card.


A = p ( 1 +. His card has an apr of 16.29%, compounded monthly.

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