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Intro Jake owes $2,600 on his credit card. He is not charging any additional purchases because he wants to get this debt paid in full.
Intro Jake owes $2,600 on his credit card. He is not charging any additional purchases because he wants to get this debt paid in full. The card has an annual rate of 15.6%. Part 1 Attempt 3/5 for 6 pts. How long does it take to pay off this balance if he only makes monthly minimum payments of $30? Can you find an answer? Why? cannot find an answer O a long time about 20 years O about 10 years Correct See explanation in part 2. Part 2 1 - Attempt 2/10 for 7 pts. What if he makes monthly payments of $45? How many months will it take to pay off the credit card debt? + decimals Previous answers: 42.6 Submit
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