You owe $30,000 on your credit card. The credit card charges interest monthly and has an APR

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You owe $30,000 on your credit card. The credit card charges interest monthly and has an APR of 18.0%. Suppose the minimum monthly payment is $620 per month, how long will it take to pay off the credit card (round to nearest month)?

a. 50 months

b. 69 months

c. 72 months

d. 77 months

e. 87 months

Posted Date: May 16, 2024 04:08 PM

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You owe $30,000 on your credit card. The credit card charges interest monthly and has an APR

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