Question
Credit card debt of $4,000 is being paid back monthly at an annual interest rate of 22%. If the debtor wishes to not add any
Credit card debt of $4,000 is being paid back monthly at an annual interest rate of 22%. If the debtor wishes to not add any new debt to the card and pay off the entire loan within four years. How much interest will be paid in the third year?
| $346.87 | ||
| $429.55 | ||
| $674.99 |
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Cost Of Capital Applications And Examples
Authors: Shannon P. Pratt, Roger J. Grabowski, Richard A. Brealey
5th Edition
1118555805, 9781118555804
