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please help thanks! Simon recently received a credit card with a 21% nominal interest rate. With the card, he purchased an Apple iPhone 11 for
please help thanks!
Simon recently received a credit card with a 21% nominal interest rate. With the card, he purchased an Apple iPhone 11 for $690. The minimum payment on the card is only $20 per month. a. If Simon makes the minimum monthly payment and makes no other charges, how many months will it be before he pays off the card? Do not round intermediate calculations. Round your answer to the nearest whole number. month(s) b. If Simon makes monthly payments of $70, how many months will it be before he pays off the debt? Do not round intermediate calculations. Round your answer to the nearest whole number. month(s) c. How much more in total payments will Simon make under the $20amonth plan than under the $70amonth plan? Do not round intermediate calculations. Round your answer to the nearest cent Step by Step Solution
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