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Helen recently received a credit card with a nominal interest rate of 21 percent. With the card, she purchased some new clothes for $325.
Helen recently received a credit card with a nominal interest rate of 21 percent. With the card, she purchased some new clothes for $325. The minimum payment on the card is only $15 per month. If Helen makes the minimum monthly payment and makes no other charges, how long will it be before she pays off the card? Selected Answer: [None Given] Answers: 42.6 months b. 16.5 months c. 22.0 months d. The card will never be paid off. 27.5 months e.
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