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12 February, 03:52

Dustin bought a $2000 computer with a credit card. The minimum payment each month is $35. Each month 1% of the unpaid balance is added to the amount he owes.

If Dustin pays only $35 the first month, what will he owe the second month?

If Dustin makes the minimum payment, what will he owe the third month?

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Answers (1)
  1. 12 February, 06:12
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    2nd month: (2000 - 35) 1.01 = 1984.65

    3rd month: (1984.65 - 35) 1.01 = 1969.15
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