Studies show that the average American has $4,878 in credit card debt with an average interest rate of 12.78% compounded monthly. If it took the average American 20 years to pay off their debt, how much would they be paying total?

Formula to use: y = a * b^x (or a = p(1+r/n)^nt)

they can both be solutions depends on the equation

step-by-step explanation:

what is the equation? ?

answer: h=5.6 i don't really know how to put into words, so i though i would let you do that. i hope i was able to some

step-by-step explanation:

18 = 6(h)+1/2

18 = 6h+1/2

18-1 = 6h/2

17 = 3h

17/3 = h

h = 5.6

hey there : ) your answer would be a.

step-by-step explanation: