Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

How long will it take Kelsey to pay off her credit care if she pays the 2% minimum payment each month and her credit card

image text in transcribed
image text in transcribed
How long will it take Kelsey to pay off her credit care if she pays the 2% minimum payment each month and her credit card charges 17% annual interest? She has $1000 on it currently and will not use it again until it is paid off. O about 1,5 years about 3 years about 5 years about 7 years

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Economics Principles and Policy

Authors: William J. Baumol, Alan S. Blinder

12th edition

978-0538453677, 538453672, 978-0538453622, 538453621, 978-0538453653

More Books

Students also viewed these Economics questions