Question: Part 3 Minimum Payment 3% $30.00 1 Jan 2 Jan 3 Jan 8 $ 1,199.00 $ $ 1,185.22 $ $ 1,171.61 $ $ 1,158.15

Part 3 Minimum Payment 3% $30.00 1 Jan 2 Jan 3 Jan 8 $ 1,199.00 $ $ 1,185.22 $ $ 1,171.61 $ $ 1,158.15 $ $ 1,144.84 $ 21.85 $ 1,131.69 $ 21.60 $ 1,118.68 $

Part 3 Minimum Payment 3% $30.00 1 Jan 2 Jan 3 Jan 8 $ 1,199.00 $ $ 1,185.22 $ $ 1,171.61 $ $ 1,158.15 $ $ 1,144.84 $ 21.85 $ 1,131.69 $ 21.60 $ 1,118.68 $ $ 1,105.83 $ $ 1,093.13 $ $ 1,080.57 $ $ 1,068.15 $ $ 1,055.88 $ $ 1,043.75 $ $ 1,031.76 $ $ 1,019.90 $ $ 1,008.19 $ $ $ 996.60 $ 985.15 $ $ $ 973.83 $ 962.42 $ 22.88 $ 1,221.9 $ 36.66 22.62 $ 1,207.8 $ 36.24 22.36 $ 1,194.0 $ 35.82 22.10 $ 1,180.2 $ $1,166.7 $ 35.00 $1,153.3 $ 34.60 21.35 $1,140.0 $ 34.20 21.10 $ 1,126.9 $ 20.86 $ 1,114.0 $ 20.62 $ 1,101.2 $ 33.04 20.38 $1,088.5 $ 20.15 $1,076.0 $ 32.28 19.92 $ 1,063.7 $ 31.91 19.69 $ 1,051.4 $ 31.54 19.46 $ 1,039.4 $ 31.18 19.24 $ 1,027.4 $ 30.82 19.02 $1,015.62 $ 30.47 18.80 $1,003.95 $ 30.12 18.58 $ 992.42 $ 30.00 35.41 What if you had "one less Starbucks" and paid an additional $5 a month on your balance? How does this affect the time it takes to pay off the balance? 33.81 33.42 a. How long does it take pay off the iPhone when you pay an additional $5 a month? b. How much less time does it take to pay off the iPhone, when compared to Part 2 scenario? 32.66 b. How much would you save in total finance charges? c. The amount you save (answer to 3b) is what percent of the total finance charges from Part 2 (2b)? 18.37 $ 980.78 $ 30.00 $ 950.78 $ 18.14 $ 968.93 $ 30.00 $ 938.93 $ 17.92 $ 956.85 $ 30.00 $ 926.85 $ 17.69 $ 944.53 $ 30.00 $ 914.53 $ 17.45 $ 931.99 $ 30.00 $ 901.99 $ 17.21 $ 919.20 $ 30.00 $ 889.20 $ 16.97 $ 906.17 $ 30.00 $ 876.17 $ 16.72 $ 892.89 $ 30.00 $ 862.89 $ 16.47 $ 879.35 $ 30.00 $ 849.35 $ 16.21 $ 865.56 $ $ 835.56 $ 15.95 $ 851.51 $ 30.00 30.00 $ 821.51 $ 15.68 $ 837.19 $ 30.00 $ 807.19 $ 15.40 $ 822.59 $ 30.00 $ 792.59 $ 15.13 $ 807.71 $ 30.00 NOV > 1,068.15 > 20.38 Dec $ 1,055.88 $ 20.15 1,088.5 $1,076.0 $ 32.28 32.66 2 Jan $ 1,043.75 $ 19.92 $ 1,063.7 $ 31.91 Feb $ 1,031.76 $ 19.69 $ 1,051.4 $ 31.54 Mar $ 1,019.90 $ 19.46 $ 1,039.4 $ 31.18 Apr $ 1,008.19 $ 19.24 $ 1,027.4 $ 30.82 May $ 996.60 $ 19.02 $ 1,015.62 $ 30.47 Jun $ 985.15 $ 18.80 $ 1,003.95 $ 30.12 Jul $ 973.83 $ 18.58 $ 992.42 $ 30.00 Aug $ 962.42 $ 18.37 $ 980.78 $ 30.00 Sep $ 950.78 $ 18.14 $ 968.93 $ 30.00 Oct $ 938.93 $ 17.92 $ 956.85 $ 30.00 Nov $ 926.85 $ 17.69 $ 944.53 $ 30.00 Dec $ 914.53 $ 17.45 $ 931.99 $ 30.00 3 Jan $ 901.99 $ 17.21 $ 919.20 $ 30.00 Feb $ 889.20 $ 16.97 $ 906.17 $ 30.00 Mar $ 876.17 $ 16.72 $ 892.89 $ 30.00 Apr $ 862.89 $ 16.47 $ 879.35 $ 30.00 May $ 849.35 $ 16.21 $ 865.56 $ 30.00 Jun $ 835.56 $ 15.95 $ 851.51 $ 30.00 Jul $ 821.51 $ 15.68 $ 837.19 $ 30.00 Aug $ 807.19 $ 15.40 $ 822.59 $ 30.00 Sep $ 792.59 $ 15.13 $ 807.71 $ 30.00 Oct $ 777.71 $ 14.84 $ 792.56 $ 30.00 Nov $ 762.56 $ 14.55 $ 777.11 $ 30.00 Dec $ 747.11 $ 14.26 $ 761.37 $ 30.00 4 Jan $ 731.37 $ 13.96 $ 745.32 $ 30.00 Feb $ 715.32 $ 13.65 $ 728.97 $ 30.00 Mar $ 698.97 $ 13.34 $ 712.31 $ 30.00 Apr $ 682.31 $ 13.02 $ 695.33 $ 30.00 May $ 665.33 $ 12.70 $ 678.03 $ 30.00 Jun $ 648.03 $ 12.37 $ 660.40 $ 30.00 Jul $ 630.40 $ 12.03 $ 642.43 $ 30.00 Aug $ 612.43 $ 11.69 $ 624.11 $ 30.00 Sep $ 594.11 $ 11.34 $ 605.45 $ 30.00 Oct $ 575.45 $ 10.98 $ 586.43 $ 30.00 Nov $ 556.43 $ 10.62 $ 567.05 $ 30.00 Nov Dec $ 5 Jan $ Feb $ Mar Apr May Jun Jul Aug Sep Oct Nov Dec 6 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov ssssssssssesses esesessssssssssssssssssss essssssssssssss $ 556.43 $ 10.62 537.05 $ 10.25 es es $ 567.05 $ 30.00 $ 547.30 $ 30.00 517.30 $ 9.87 $ 527.17 $ 30.00 497.17 $ 9.49 $ 506.66 $ 30.00 $ 476.66 $ 9.10 $ 485.76 $ 30.00 $ 455.76 $ 8.70 $ 464.45 $ 30.00 $ 434.45 $ 8.29 $ 442.74 $ 30.00 $ 412.74 $ 7.88 $ 420.62 $ 30.00 $ 390.62 $ 7.45 $ 398.07 $ 30.00 $ 368.07 $ 7.02 $ 375.10 $ 30.00 $ 345.10 $ 6.59 $ 351.68 $ 30.00 $ 321.68 $ 6.14 $ 327.82 $ 30.00 $ 297.82 $ 5.68 $ 303.51 $ 30.00 $ 273.51 $ 5.22 $ 278.73 $ 30.00 $ 248.73 $ 4.75 $ 253.47 $ 30.00 $ 223.47 $ 4.26 $ 227.74 $ 30.00 $ 197.74 $ 3.77 $ 201.51 $ 30.00 $ 171.51 $ 3.27 $ 174.78 $ 30.00 $ 144.78 $ 2.76 $ 147.55 $ 30.00 $ 117.55 $ 2.24 $ 119.79 $ 30.00 $ 89.79 $ 1.71 $ 91.50 $ 30.00 $ 61.50 $ 1.17 $ 62.68 $ 30.00 $ 32.68 $ 0.62 $ 33.30 $ 30.00 $ 3.30 $ 0.06 $ 3.36 $ 3.36 $ 0.00 $ 0.00

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