Answered: You pay off a debt of $750 by paying…

You pay off a debt of $750 by paying 19% of the remaining balance each month. How many months will it take for your loan balance to be equal to $450? Round your answer to the nearest whole month.

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter9: Sequences, Probability And Counting Theory

Section9.4: Series And Their Notations

Problem 57SE: Karl has two years to save $10000 to buy a used car when he graduates. To the nearest dollar, what...

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Question

You pay off a debt of $750 by paying 19% of the remaining balance each month. How many months will it take for your loan balance to be equal to $450? Round your answer to the nearest whole month.

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