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Assume that the person does not place any additional charges on the card and pays the bank $150 each month to pay off the loan. Let Bn be the balance owed on the card after n months. Find an explicit formula for Bn.

User Stoic
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1 Answer

4 votes

Answer:

B(n) = t - 150n

Step-by-step explanation:

The following formula can be used to calculate the balance owed after a certain amount of months have passed by ...

B(n) = t - 150n

This formula basically states that the balance that is owned (B(n)) is equal to the total amount that was borrowed minus the 150 that was already paid off multiplied by the total amount of months/payments made (n). Which for example, after 5 months would be (150 * 5 = 750) $750 paid back.

User Chentingpc
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