Question
Sandy Creditgirl charged $2,500 worth of merchandise one year ago on her Master Card, which has a stated interest rate of 36% APR compounded monthly.
Sandy Creditgirl charged $2,500 worth of merchandise one year ago on her Master Card, which has a stated interest rate of 36% APR compounded monthly. She made 12 regular monthly payments of $150, at the end of each month, and refrained from using the card for the past year. How much does she still owe?
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Entrepreneurial Finance Venture Capital Deal Structure And Valuation
Authors: Janet Kiholm Smith, Richard L. Smith
2nd Edition
1503603210, 978-1503603219
