You have a credit card with a balance of $12,400 and an APR of 17.6 percent...

Question

Question

Answer 1

Answer #1

rate positively ..

we have to use financial calculator to solve this
Put in calculator for each case

	With 240	With 290

FV	0	0
PV	-12400	-12400
PMT	240	290
I	1.47%	1.47%

compute N	97.38	67.75

Saving in number of month =
97.38-67.75		29.63

Ans =	29.63	Month

Answer 2

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