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i need help with the last part on this question! Assume you have a balance of $1600 on a credit card with an APR of
i need help with the last part on this question!
Assume you have a balance of $1600 on a credit card with an APR of 151 25% per month You start making monthly payments of $200, but at the same time you charge an additional 5001 per month to the credit card Assume that interest for a ghen month is based on the balance for the previous month The following table show how you can calculate your monthly balance Complete and extend the table to show the balance at the end of each month until the debt is paid off How long does it take to pay of the credit card debt? Fill out the table row by row and continut until the last till payment and to the contended) Payment Expenses Interest New Balance $1600 1 5200 540 00125 x 1600 30000 $1600 - 5200 500 52000 = $145000 5200 540 37318 5200 5117 VD Con the payme $300 500 Step by Step Solution
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