Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Imagine if you had these three credit cards: American Express 4.99% with a balance of $1,192 and a minimum payment of $15, Citibank 13.9996 with
Imagine if you had these three credit cards: American Express 4.99% with a balance of $1,192 and a minimum payment of $15, Citibank 13.9996 with a balance of $11,034 and minimum payment of $151 and Chase 9.999% with a balance of $3,582 and a minimum payment of $46. This wehsite (goo.g1/6H132) is recommended for answering these questions a. How long will it take to pay off the debt only paying minimum payments? b. How long will it take to pay off the debt if paying a total of $400 per month? How much do you have to pay each month if you want to be debt free in 4 years? c. d. In what order does the website ask you to pay off your credit cards? How might it be better to pay off the lowest balances first? e
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