show tabel EXERCISE 3.2 Carol charged her credit card 10,000 dollars on December 31, 2011. The monthly interest rate charged by the credit card company is
1%
of the unpaid balance at the end of each month. Carol wishes to pay off all her debt in three years, with 36 equal payments, at the beginning of each month, beginning February 1, 2012. What should the amount of her monthly payments be? Answer:
$332.14
(Hint: Use the PMT function)

Question

show tabel EXERCISE 3.2 Carol charged her credit card 10,000 dollars on December 31, 2011. The monthly interest rate charged by the credit card company is

1%

of the unpaid balance at the end of each month. Carol wishes to pay off all her debt in three years, with 36 equal payments, at the beginning of each month, beginning February 1, 2012. What should the amount of her monthly payments be? Answer:

$332.14

(Hint: Use the PMT function)

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