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Assume contunious compounding and continuous payments for the following problem. Credit card debt can be financially disasterous! Borrowing at a high rate with low payments
Assume contunious compounding and continuous payments for the following problem. Credit card debt can be financially disasterous! Borrowing at a high rate with low payments is the worst combination. Suppose you charge $5070.00 dollars on your Visa. Calculate the total amount of interest after you pay off the balance at the minimum payment rate of $69.93 per month if your Visa charges 13.13% interest (annually) Round your answer to the nearest dollar
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