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no more information given, unless you follow this example Suppose you change your credit card until you reach boce of $125173. If this card bid
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Suppose you change your credit card until you reach boce of $125173. If this card bid APR of 18.75% and minimum payment of 43. what will your balance be after 3 months? When will your balance drop below $500? Minimum Paument Formula i tis boloh you pay the minimum of the credit card $1,251.73 3 of current balance Ny Interest inimum Pam 0.015625 10 . 04 APR .1075 0 2 lace 74.02337 years to re Months Adigste Biance Method To find out how long it take to end 2 Month 6 0 You're charged Finance Charge 1 TB $16.31 $170S $17.40 $16.37 SI56 13 515173 11533 $1435 - - olue=lle ---Felelalel S - Previous Bloce Payment Purchal $1.251.73 01011000 $220.00 10.00 $1,183.33 147760 0 00 $1,160.18 $46.41 $0.00 $1,131.17 $45.25 $0.00 $1,102.89 144.12 $0.00 $10752 $43.01 $0.00 $1,048.44 141.94 $0.00 $102223 089 $0.00 336.67 $39.07 000 $971.76 $0.00 $347.46 3790 $0.00 $36.95 $0.00 $900,68 136.03 30.00 $878.16 $35.13 $0.00 $656.21 $34.25 $0.00 $034.80 $0.00 $813.33 $3256 SOTOO $793.53 $0.00 $773.75 $30.95 10.00 $754.40 130.18 TOTOO $735.54 $23.42 $0.00 $717.15 21069 $0.00 363322 $21.97 30.00 $681.74 52727 30.00 $664.70 $2659 $0.00 $648.00 S5592 $0.00 $631 $0.00 56160 $25.00 10.00 $600.32 5.00 10.00 $507471 525.00 10.00 $5660S $25.00 $0.00 $551.53 $25.00 10.00 $534.76 $25.00 30.00 3517.13 525.00 $0.00 $500.42 $25.00 10.00 $1421 $13.06 $13. 51 $1317 112704 12252 $12321 $11.90 $11.61 - New Balance $1220.44 $1,189.33 1.150.18 $1,13117 51.10289 $1,075.32 $1,048.44 $1,022.23 $936.67 $371.76 $367.46 9323777 $300.68 6 76.16 103621 36.80 1 3.33 $13359 $773.75 156.40 $785.54 717.15 5653322 60174 $66 4.70 S06 16531.88 5616.08 $600132 350431 3366105 555513 1534.76 $517.73 3300.42 348285 - - - $11.03 $10.76 $10.49 10273 37 - - - $9.49 CELLULLLLLLL $0.35 $6.74 elalelse las Suppose you change your credit card until you reach boce of $125173. If this card bid APR of 18.75% and minimum payment of 43. what will your balance be after 3 months? When will your balance drop below $500? Minimum Paument Formula i tis boloh you pay the minimum of the credit card $1,251.73 3 of current balance Ny Interest inimum Pam 0.015625 10 . 04 APR .1075 0 2 lace 74.02337 years to re Months Adigste Biance Method To find out how long it take to end 2 Month 6 0 You're charged Finance Charge 1 TB $16.31 $170S $17.40 $16.37 SI56 13 515173 11533 $1435 - - olue=lle ---Felelalel S - Previous Bloce Payment Purchal $1.251.73 01011000 $220.00 10.00 $1,183.33 147760 0 00 $1,160.18 $46.41 $0.00 $1,131.17 $45.25 $0.00 $1,102.89 144.12 $0.00 $10752 $43.01 $0.00 $1,048.44 141.94 $0.00 $102223 089 $0.00 336.67 $39.07 000 $971.76 $0.00 $347.46 3790 $0.00 $36.95 $0.00 $900,68 136.03 30.00 $878.16 $35.13 $0.00 $656.21 $34.25 $0.00 $034.80 $0.00 $813.33 $3256 SOTOO $793.53 $0.00 $773.75 $30.95 10.00 $754.40 130.18 TOTOO $735.54 $23.42 $0.00 $717.15 21069 $0.00 363322 $21.97 30.00 $681.74 52727 30.00 $664.70 $2659 $0.00 $648.00 S5592 $0.00 $631 $0.00 56160 $25.00 10.00 $600.32 5.00 10.00 $507471 525.00 10.00 $5660S $25.00 $0.00 $551.53 $25.00 10.00 $534.76 $25.00 30.00 3517.13 525.00 $0.00 $500.42 $25.00 10.00 $1421 $13.06 $13. 51 $1317 112704 12252 $12321 $11.90 $11.61 - New Balance $1220.44 $1,189.33 1.150.18 $1,13117 51.10289 $1,075.32 $1,048.44 $1,022.23 $936.67 $371.76 $367.46 9323777 $300.68 6 76.16 103621 36.80 1 3.33 $13359 $773.75 156.40 $785.54 717.15 5653322 60174 $66 4.70 S06 16531.88 5616.08 $600132 350431 3366105 555513 1534.76 $517.73 3300.42 348285 - - - $11.03 $10.76 $10.49 10273 37 - - - $9.49 CELLULLLLLLL $0.35 $6.74 elalelse las Step by Step Solution
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