Chris Griffin has a $5,000debt balance on his Visa card that charges 18.9percent compoundedmonthly, and his minimum
Question:
Chris Griffin has a $5,000debt balance on his Visa card that charges 18.9percent compoundedmonthly, and his minimum monthly payment is 3 percent of his debtbalance, which is $150. How many months(round up) will it take Chris to pay off his credit card if he pays the current minimum payment of $150 at the end of eachmonth?
If Chris made monthly payments of $200 at the end of each month, how long would it take to pay off his credit card(round up)?
For Chris to pay off his credit card if he pays the current minimum payment of $150at the end of eachmonth, it will take approximately how manymonths.(Round up to the nearestinteger.)If Chris pays $200at the end of eachmonth, it will take approximately how manymonths.(Round up to the nearestinteger.)