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Mathematics, 22.10.2019 04:50 dontcareanyonemo

70. suppose that you currently have one credit card with a balance of $10,000 at an annual rate of 24.00% interest. you have stopped adding any additional charges to this card and are determined to pay off the balance. you have worked out the formula bbn = b0r n βˆ’ r(1 + r+r2 ++ r nβˆ’1), where b0 is the initial balance, bn is the balance after you have maden payments, r= 1 + i, wherei is the monthly interest rate, and r is the amount you are planning to pay each month.
b. explain why we can rewrite the given formula as bn= b0rn βˆ’ r(1-rn/1-

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