Math 1050 Credit Card Debt Project Name_Maidi!# Tipped: 2. A formula for calculating the payment, P’, required to pay off a debt of amount Din MZ months with monthly interest rate i is Using this formula, solve for M to determine the number of months it will take to pay off the $2000 credit card debt with minimum monthly payments of $25. Round the number of months to two decimal places. (Attach all work for this assignment to the end.) “283,37. months — (attach war) How long is this in years, rounded to the nearest tenth of a year? - 293.37 1s. eee 23-6 <7 {ee ( is What is the total amount paid to the credit card company, rounded to the nearest dollar? f HO94,25 > (28397 #2) 5 ]r08¥.25 —4.2.00° = 3. How many months will be required to pay off the debt if you pay $50 each month? Round to two decimal places. ey ls (50-2000 - 6+ 0/2083) be 50~LIlS0- AE) Oy DLwlas. 934) tae AO Ze (012083 Gor o1a0e Tu Foners ne & How long is this in years, rounded to the nearest tenth of a year? 55-03 BS . Git gears ial ‘What is the total amount paid to the credit card company, rounded to the nearest dollar? 55-03. $60 2 72/751.50., (J2z71-0 ~A0e0) = WIS 4, How many months will be required to pay off the debt if you pay $75 each month? Round to ire al plgees lg ts -lu( Hn 20ee 0.012005) Gy 3 We IDEEE), Uns ee Tu 7 012085 Cp 00 P3 Gp EQReR® eee 0.3887 133.41 merlin ern We ae m How long is this in yeas, rounded tothe nearest tenth of a year? 2 Beet. 28 yeu? (2 Whats the total amount pad to the cre card company, rounded tothenearestdola? 5) ) d a2.41. Iti ay A AYBOIS — (2930.8- 2.000 2120