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Applications
Why is the Minimum Payment on a Credit Card So Low?
Why is the Minimum Payment on a Credit Card So Low?
Author
:
Jason Schattman
5
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Preview
This Application runs in Maple.
Don't have Maple? No problem!
Try Maple free for 15 days!
On a monthly credit card balance of $1000, a typical credit card company will only ask for a minimum payment of $20. Why do credit card companies do that? Let's see if Maple can lead us to some insights.
Application Details
Publish Date
:
September 10, 2008
Created In
:
Maple 12
Language
:
English
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This application is in the following
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:
Editor's Choice
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Tags
algebra
precalculus
economics
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