Question
Joey realizes that he has charged too much on his credit card and has racked up $3,900 in debt. If he can pay $175 each
| Joey realizes that he has charged too much on his credit card and has racked up $3,900 in debt. If he can pay $175 each month and the card charges 16 percent APR (compounded monthly), how long will it take him to pay off the debt?(Do not round intermediate calculations. Round your final answer to 2 decimal places.) |
| Time to pay off the debt | ? months |
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Personal Finance
Authors: Jeff Madura, Hardeep Singh Gill
4th Canadian edition
134724712, 134724713, 9780134779782 , 978-0134724713
