Question
Joey realizes that he has charged too much on his credit card and has racked up $4,500 in debt. If he can pay $175 each
Joey realizes that he has charged too much on his credit card and has racked up $4,500 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?
Time to pay off the debt?
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Essentials Of Corporate Finance
Authors: Stephen A. Ross, Randolph W. Westerfield, Bradford D. Jordan
9th International Edition
1259254801, 9781259254802
