Suppose your credit card balance is $15,000 The minimum payment is $313 and the annual percentage...
Suppose your credit card balance is
$15,000
The minimum payment is
$313
and the annual percentage rate is
19.5%.
a. If you make a constant monthly payment of
$313
how long will it take you to pay off the credit card balance?
b. How much interest will you pay if you elect to make the minimum payment?
a. If you make a constant monthly payment of
$313
how long will it take you to pay off the credit card balance?
months (Round to four decimal places.)
Homework Answers
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Suppose your credit card balance is
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