Question
Pheobe realizes that she has charged too much on her credit card and has racked up $7,000 in debt. If she can pay $200 each
Pheobe realizes that she has charged too much on her credit card and has racked up $7,000 in debt. If she can pay $200 each month and the card charges 17 percent APR (compounded monthly), how long will it take her to pay off the debt?
| 28.63 months | ||
| 35.00 months | ||
| 47.71 months | ||
| 48.68 months |
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Finance Theory And Practice
Authors: Anne Marie Ward
4th Edition
191235036X, 978-1912350360
