Question 9 (0.15 points) You have credit card debt of $1,000 at 22% APR compounded monthly....

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Question 9 (0.15 points) You have credit card debt of $1,000 at 22% APR compounded monthly. If you charge no more purchases t

Answer 1

Answer #1

Function Arguments ? X NPER Rate 0.018333333 22%/12 Pmt -450 -450 Pv 1000 1000 Fv 0 0 Туре 0 2.289492013 Returns the number o

Hence, It will take 2.29 months to payoff debt

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Answer 2

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