Question 18 4 pts To celebrate mustering through winter quarter, you are considering an extravagant...
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Question 18 4 pts To celebrate mustering through winter quarter, you are considering an extravagant spring break offered by Yolo Corp.: an all-expenses-paid weeklong trip to a fantasy island, costing only $9,000. To get this amazing deal, you must pay upfront. You plan to put it all on your Fomo Bank credit card, which charges a 18% APR, compounded monthly. You want to make monthly payments for 3 years, starting in one month, and then pay off the balance in one lump sum at the end of 3 years. If you can only afford to make monthly payments of $220 each, how much will you still owe in 3 years? That is what will be the balance on your card 36 months from now? Answer in dollars and cents. Do not include the $ sign
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