10.2.3.doc - Module 11 Lesson 2 Assignment Instant Credit...

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Module 11 Lesson 2 Assignment - Instant Credit Intro: While browsing at the mall, you decided to apply for instant credit at one of the department stores. Amazed, yet excited, that you were awarded $500 in credit, you purchased a TV for $306.00 . Your credit card company charges 9% per month, for any unpaid amount. If each month you do not pay the credit card bill in full, but instead just pay the monthly minimum charge of $44.00 , how long will it take for you to pay off the $306.00 TV? How much will the TV end up costing you? Finish filling in the following table to see how much money you will end up paying. Round each calculation to the nearest penny. DO NOT MISS THE REFLECTION QUESTIONS Directions: Complete the chart below (type directly into the chart). Several boxes have been already filled in to help you check your work along the way. Do not worry if you are a couple of pennies off. This happens with rounding. (60 points) Answer the following questions AFTER you complete the chart below.
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