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No Payments For The First Six Months!

You just bought a new tablet computer for including tax. There are no required payments for six months but the company does charge annual interest, compounded monthly, on any unpaid balance.

  1. What is the monthly multiplier?

    Annual is yearly, so per year is what percent each month?

  2. If you do not make any payments for six months, how much will you now owe for your new tablet?

    Review the Math Notes box in Lesson 7.1.3.