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i think the amount of compounding periods is 36 Joseph has a credit card debt of $3000/-. His card charges an APR of 20.0% and

i think the amount of compounding periods is 36 image text in transcribed
Joseph has a credit card debt of $3000/-. His card charges an APR of 20.0% and the minimum payment required each month is 5.0% of the balance. If he pays only the minimum each month and does not use the card, what would be his balance on the card at the end of 3 years? period interest rate = Number of compounding periods = 36 Question 5 6 pts For the previous problem, what is the balance on the card after 3 years

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