Question
Scenario 2: Assume you have a credit card with a balance of $7,560 that you want to pay off in 36 months. The interest rate
Scenario 2: Assume you have a credit card with a balance of $7,560 that you want to pay off in 36 months. The interest rate is 11.6%.
9. What is the monthly amount needed to pay off this credit card assuming no more purchases and no annual fee?
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10. What if you could only pay $150 a month on this cardapproximately how many months would it take to pay it off? (Still round to 2 decimal places)
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Introduction To Derivatives And Risk Management
Authors: Robert Brooks, Don M Chance, Roberts Brooks
8th Edition
0324601212, 9780324601213
