Johann owes $9,889 on a credit card with a 23.5% interest rate. What is the monthly payment he should make to pay off this debt in 12 months, assuming he does not charge any more purchases with the card? (2 points) $824.08
$932.71
$206.30
$2,524.44

Option B: $932.71

Step-by-step explanation:

He owes $9,889 on a credit card with a 23.5% interest rate.

Thus;

Current balance; P = $9,889

Interest rate; r = 23.5% = 0.235

Number of compounding; n = 12

We will use the formula;

A = P(r/n)/(1 -(1 +r/n)^(-nt))

t is number of years = 1

Thus;

A = (9889 × 0.235/12)/(1 - (1 + (0.235/12))^(-12 × 1)

A = (9889 × 0.019583)/(1 - (1 + (0.235/12))^(-12))

A = $932.71

step-by-step explanation:

the original amount doesn't ''re just looking for the time it takes for 1/2 of the substance to we have

(1/2) =)     take the ln   of both sides

ln (1/2)   = )   and we can write

ln(1/2) = ) lne     and lne   = 1     so we have

ln(1/2) = -.1092t     divide both sides by -.1092

t = ln(1/2)/-.1092 = about 6.347 days = about 6.3 days (rounded)

i think the answer is b.

step-by-step explanation:

not 100% sure though.