monthly computations, math homework help

Anonymous
timer Asked: Jul 6th, 2017
account_balance_wallet $5

Question Description

Suppose you borrow $1000 (or spend $1000) on a credit card. How much will you owe in one month? 6 months if you pay nothing for 6 months?

Compute the 6 month cost in two ways:

  1. Make 6 monthly computations. Enter these as formulas in a spreadsheet. (The goal here is really getting you to use spreadsheets and formulas for computations.)
  2. Use the formula, A= 1000(1 + r)N where N = the number of periods (6) and r = the periodic interest rate = APR/12, where APR is the annual percentage rate.

Tutor Answer

jesusale932
School: University of Maryland

Here is my answer :)

Question:
Suppose you borrow $1000 (or spend $1000) on a credit card. How much will you owe in one month?
Compute the 6 month cost in two ways:
1. Make 6 monthly computations. Enter these as formulas in a spreadsheet. (The goal here
is really getting you to use spreadshe...

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Review

Anonymous
Tutor went the extra mile to help me with this essay. Citations were a bit shaky but I appreciated how well he handled APA styles and how ok he was to change them even though I didnt specify. Got a B+ which is believable and acceptable.

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