No Payments For The First Six Months! Homework Help ✎
You just bought a new tablet computer for $500 including tax. There are no required payments for six months but the company does charge 30% annual interest, compounded monthly, on any unpaid balance.
What is the monthly multiplier?
If you do not make any payments for six months, how much will you now owe for your new tablet?
Annual is yearly, so 30% per year is what percent each month?
Review the Math Notes box in Lesson 7.1.3.