Question
Katie Stewart is a legal secretary at a major law firm in New York City, where she has worked for the last two years, since
Katie Stewart is a legal secretary at a major law firm in New York City, where she has worked for the last two years, since graduating from Brookdale Community College. Its too expensive to live in the city on her $28,000 salary, so Katie commutes from New Jersey at a cost of $50 per week. Katie is worried about her personal finances. In the two years she has worked in New York, she has spent more than she has earned, primarily to buy clothes for work. A few lunch-hour shopping sprees with coworkers have resulted in impulse purchases on credit cards, and Katie now has $4,500 in credit card debt. Katie is considering a legal secretary position with a small firm in New Jersey that will pay $3,000 less than her current job. If Katies credit card interest rate is 14 percent, and she wants to pay her credit card debt off over four years, what payment will she need to make each month? (Round answer to 0 decimal places, e.g. 5,275.) $ per month
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