A credit card company charges an effective interest rate of 18%. If Claude's current balance is $5000
Question:
A credit card company charges an effective interest rate of 18%. If Claude's current balance is $5000 and she makes the minimum payment of $150 at the beginning of each month, calculate the number of payments that she will have to make to settle the debt.
AppendixLO1
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Mathematics Of Business And Finance
ISBN: 9781927737545
4th Edition
Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans
Question Posted: