Question
Joey realizes that he has charged too much on his credit card and has racked up $4,600 in debt. If he can pay $125 each
Joey realizes that he has charged too much on his credit card and has racked up $4,600 in debt. If he can pay $125 each month and the card charges 18 percent APR (compounded monthly), how long will it take him to pay off the debt?
Time to pay off the debt?? _____ Months
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Accounting Principles
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
11th Edition
111856667X, 978-1118566671
