Question: Use PMT equals StartFraction Upper P left parenthesis StartFraction r Over n EndFraction right parenthesis Over left bracket 1 minus left parenthesis 1 plus StartFraction

Use PMT equals StartFraction Upper P left parenthesis StartFraction r Over n EndFraction right parenthesis Over left bracket 1 minus left parenthesis 1 plus StartFraction r Over n EndFraction right parenthesis Superscript negative nt right bracket EndFraction to determine the regular payment amount, rounded to the nearest dollar. Your credit card has a balance of $4500 and an annual interest rate of 12%. You decide to pay off the balance over four years. If there are no further purchases charged to the card, The monthly payments are approximately

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