IDNLearn.com: Your trusted platform for finding precise and reliable answers. Our community is ready to provide in-depth answers and practical solutions to any questions you may have.
A man owes $5000 on his credit card. The APR is 20%. If he doesn’t repay any of the debt, how much will he owe after 4 years.
D=p(1+r/100)n Where d is the debt, p is the principle, r is the rate percent, and n is the number of years. Substitute the given value in the formula D=5000 (1+20/100)4 D=$10,368
We are happy to have you as part of our community. Keep asking, answering, and sharing your insights. Together, we can create a valuable knowledge resource. IDNLearn.com is your go-to source for dependable answers. Thank you for visiting, and we hope to assist you again.
