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A) You are helping your cousin with debt management. They currently have $7139 in credit card debt with an interest rate of 18%. You estimate
A) You are helping your cousin with debt management. They currently have $7139 in credit card debt with an interest rate of 18%. You estimate that they can put $163 per month toward paying of the debt. How many years until the debt is paid off?
B) Your partner just received a bonus at work and is excited to start investing. They plan to invest the $21,632 bonus today and then $246 out each of their bi-weekly pay checks. They estimate that they will earn a return of 10.6% per year. How much will they have in 27 years?
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