Please help me understand my Credit Card Project

sijones009

New member
Joined
Mar 22, 2017
Messages
2
1.page 1.jpg 2.page 2.jpg
This is the worksheet my quantitative reasoning teacher assigned us. I was able to complete the chart using Microsoft Excel. Image 3. has all the values for to table in image 1. A tutor at my college gave me the logical formula to find the minimum payment, interest, and Balance A at the end of month. I do not understand completely how he came to the equations I wrote on the bottom for each column of the chart. Which brings me to my next problem.

3. page 3.jpg
I do not know how to answer question 4 where it asks me to use my table/chart to determine a formula for the balance A at the end of m months (as the minimum payment is greater than $25). The answer seem obvious and in my face but I do not know how to solve. Please clarify this form me.
 
< links to objectionable pages removed >

Here are the pages that did not upload at the proper dimensions.
 
Last edited by a moderator:
Top