Answered step by step
Verified Expert Solution
Question
1 Approved Answer
GET OUT OF DEBT Leslie tried to buy an organic diet soda at Trader Joe's, but her credit card was declined. In a panic, she
GET OUT OF DEBT Leslie tried to buy an organic diet soda at Trader Joe's, but her credit card was declined. In a panic, she called her financial institution and learned that she had reached her credit limit. This isn't Leslie's only debt, and she wants to be debt free. She makes $4,000 each month after taxes, Help Leslie manage her debt. Login to Banzai, click Banzai Plus, scroll down to the library section, and read the Managing Debt article. Click the Get Out of Debt Coach and go through it as if you were Leslie. Balance Interest Rate Current Minimum Payment Credit Cards American Success $3,000 14.14% $150 Bullseye $1,335 24.04% $40 Jetgreen - Frequent Flyer $3,452 10.09% $140 Student Loan Hometown Financial $14,000 4% $150 Auto Loan ZNW Dealership $6,750 7% $200 Total $28,537 $680 1. If Leslie only pays minimum payments, how long will it take her to pay off her credit card with the highest balance? 2. How long will it take Leslie to pay off that same credit card if she makes fixed payments
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started