Question: 6. [-/1 Points] DETAILS MY NOTES PRACTICE ANOTHER Assume that you have a balance of $4000 on your Discover credit card and that you

6. [-/1 Points] DETAILS MY NOTES PRACTICE ANOTHER Assume that you have a balance of $4000 on your Discover credit card and that you make no more charges. Assume that Discover charges 24% APR and that each month you make only the minimum payment of 2.5% of the balance. Find a formula for the balance B after t monthly payments. eBook 7. [-/1 Points] DETAILS MY NOTES PRACTICE ANOTHER Assume that you have a balance of $5500 on your Discover credit card and that you make no more charges. Assume that Discover charges 30% APR and that each month you make only the minimum payment of 2.5% of the balance. What will the balance be after 30 months? (Round your answer to the nearest cent.) $ eBook 8. [-/1 Points] DETAILS MY NOTES PRACTICE ANOTHER Assume that you have a balance of $5000 on your Discover credit card and that you make no more charges. Assume that Discover charges 27% APR and that each month you make only the minimum payment of 2.5% of the balance. What will the balance be after 8 years? (Round your answer to the nearest cent.) $ eBook 9. [-/1 Points] DETAILS MY NOTES You have a balance of $10,000 for your tuition on your American Express credit card. Assume that you make no more charges on the card. Also assume that American Express charges 12% APR and that each month you make only the minimum payment of 4% of the balance. Find a formula for the balance after t monthly payments. $10,000 0.9125t $10,000 x 0.9025t O $10,000 x 0.8325t $10,000 x 0.9696t eBook 10

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