Math OER Zoom Room Textbook YouTube Distance Learning Tips

# Math OER Turn In Problems  Business Decisions — Charge Options

The homework you turn in to be graded is the "icing on the cake" that completes a long homework process.

You reviewed your notes. You attempted the example problems in the online notes. You used the problem bank. You did some random problems. Now, finally, you can show off the mastery you have gained from all that work.

Be happy with your written work before you turn it in! Compare your homework with that of classmates. Remember your study skills.

Before using this page, you should have your homework completed on paper. This page is only for submitting your homework. To be short and concise it lacks any diagrams, pictures, or tables needed to work the problems.

Answer every question. Then use the button at the bottom of the page to create a code by processing your answers. Copy-and-paste the code into the body of an e-mail to your instructor.

Raynor starts a new credit card that charges 24% annual interest per year to keep his bookkeeping simple when buying a \$1,499 computer. (He will use the card for nothing else.) The credit card charges him one-twelfth of its annual interest rate each month. Raynor pays \$140 per month until the balance is paid off. Fill in the last parts of the table below.

1. The month nine ending amount, also the month ten starting amount...

\$382.86 \$390.67 \$398.48 \$476.62

2. The month ten amount on which interest was due...

\$242.86 \$250.67 \$258.48 \$336.62

3. The month ten amount of interest...

\$4.86 \$5.01 \$5.17 \$5.52

4. The month ten ending amount, also the month eleven starting amount...

\$253.31 \$263.65 \$393.31 \$403.65

5. The month eleven amount on which interest was due...

\$113.31 \$123.65 \$253.31 \$263.65

6. The month eleven amount of interest...

\$2.27 \$2.47 \$5.07 \$5.80

7. The month eleven ending amount, also the month twelve starting amount and payment amount...

\$111.30 \$116.24 \$121.18 \$126.12

8. Continuing the previous problem, find his total interest in dollars.

\$163.30 \$159.48 \$167.12 \$175.10

9. Continuing the previous problem, find what percentage of his first month's payment was interest.

2% 9% 10% 19%

10. Continuing the previous problem, find what percentage of his tenth month's payment was interest.

2% 4% 35% 54%