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PAYING OFF CREDIT CARDS Simon recently received a credit card with an 14% nominal Interest rate with the card, he purchased an Apple iPhone 5
PAYING OFF CREDIT CARDS Simon recently received a credit card with an 14% nominal Interest rate with the card, he purchased an Apple iPhone 5 for 5430. The minimum payment on the card is only $20 per month It Simon makes the minimum monthly payment and makes no other charges, now many months will it be before he pays off the card! Do not round warmediate calculations. Round your answer to the nearest month month(s) hot simon makes monthly payments of $60, how many months will it be before he pays off the debt? Do not round Intermediate calculations. Hound your awer to the nearest month months) c. How much more in total payments will Simon make under the $20-a-month plan than under the $60-a-month plan. Do not round intermediate calculatora. Round your answer to the nearest cent
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