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Question 30 (9 points) Assume that Tommy finds out that he owes $3,251 on his credit card and he has decided not to use the
Question 30 (9 points) Assume that Tommy finds out that he owes $3,251 on his credit card and he has decided not to use the credit card but get it paid off. Tommy has a low credit score, thus the credit card company charges him a high interest rate at 1.5825% per month. He decides to have the credit card paid off in 2 years. To get rid of the credit card debt in 2 years (i.e., 24 months), how much should he pay the credit card company each month? A) $163.86 B) $172.34 C) $152.43 D) $185.26 E) $190.08
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