Question
Katies mastercard has a balance due of $5,000 after purchasing a huge vacation. Her plan is to pay off the card with $472.80 monthly payments
Katies mastercard has a balance due of $5,000 after purchasing a huge vacation. Her plan is to pay off the card with $472.80 monthly payments within one year. The first payment is due one month from now. What is the annual interest rate that she will be charged? Please show work and do not post answer on paper.
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Financial Accounting
Authors: Dr Carl S. Warren, Dr James M. Reeve, Philip E. Fess
9th Edition
032418803X, 978-0324188035
