Question
Joey realizes that he has charged too much on his credit card and has racked up $5,500 in debt. If he can pay $175 each
Joey realizes that he has charged too much on his credit card and has racked up $5,500 in debt. If he can pay $175 each month and the card charges 15 percent APR (compounded monthly), how long will it take him to pay off the debt?
Time to pay off the debt ____ months round to 2 decimal places
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Advanced Accounting
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupni
13th edition
1259444953, 978-1259444951
