Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 5 Your credit card charges 13% APR and your current balance is $6,200. Calculate the following amounts. Round your answers to two decimal places.
Question 5 Your credit card charges 13% APR and your current balance is $6,200. Calculate the following amounts. Round your answers to two decimal places. A) If you want to pay off the credit card in 5 years, how much will you need to pay each month, assuming you don't charge anything new to the card? $ each month B) How much total interest do you pay? total interest Question Help: Video
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started