Why is the Minimum Payment on a Credit Card So Low? - Maple Application Center
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Application Center Applications Why is the Minimum Payment on a Credit Card So Low?

Why is the Minimum Payment on a Credit Card So Low?

Author
: Maplesoft AuthorJason Schattman
5
Engineering software solutions from Maplesoft
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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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algebra precalculus economics

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