Question
question 8- Suppose your credit card balance is $16,500. The minimum payment is $345, and the annual percentage rate is 20.9%. a. If you make
question 8- Suppose your credit card balance is $16,500. The minimum payment is $345, and the annual percentage rate is 20.9%.
a.If you make a constant monthly payment of $345, how long will it take you to pay off the credit cardbalance?
b.How much interest will you pay if you elect to make the minimumpayment?
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Engineering Economy
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
15th edition
132554909, 978-0132554909
