Mathematics
Mathematics, 24.06.2019 07:30, genesisdiaz1352

Find the savings balance after 9 months with an apr of 4% and monthly payment of $250.

answer
Answers: 2

Similar questions

Предмет
Computers and Technology, 16.09.2019 07:20, crookdamian21
Now write a program that calculates the minimum fixed monthly payment needed in order pay off a credit card balance within a user defined number of months. we will not be dealing with a minimum monthly payment rate.take as  input()  the following floating point numbers: the outstanding balance on the credit cardannual interest rate as a decimalthe number of to pay off the debtprint out the fixed minimum monthly payment, number of months (at most the number of user defined months  and possibly less than that) it takes to pay off the debt, and the balance (likely to be a negative number).assume that the interest is compounded monthly according to the balance at the start of the month (before the payment for that month is made). the monthly payment must be a multiple of $10 and is the same for all months. notice that it is possible for the balance to become negative using this payment scheme. in short: monthly interest rate  = annual interest rate / monthschosenupdated balance each month  = previous balance * (1 + monthly interest rate) – minimum monthly paymenttest case 1> > > enter the outstanding balance on your credit card:   1200enter the annual credit card interest rate as a decimal:   .18enter the number of months have the debt paid off by:   12resultmonthly payment to pay off debt in 1 year: 120number of months needed: 11balance: -10.05> > > test case 2> > > enter the outstanding balance on your credit card:   32000enter the annual credit card interest rate as a decimal:   .2enter the number of months have the debt paid off by:   24resultmonthly payment to pay off debt in 1 year: 1480number of months needed: 24balance: -88.92> > > hintsstart at $10 payments per month and calculate whether the balance will be paid off (taking into account the interest accrued each month). if $10 monthly payments are insufficient to pay off the debt within a year, increase the monthly payment by $10 and repeat.
Answers: 2
Do you know the correct answer?
Find the savings balance after 9 months with an apr of 4% and monthly payment of $250....

Questions in other subjects:

Konu
Mathematics, 06.01.2020 18:31