Question
Suppose I have a balance of $5000 on my Bank of America credit card. Assume the interest rate on my card is 14.99%. If I
Suppose I have a balance of $5000 on my Bank of America credit card. Assume the interest rate on my card is 14.99%. If I am willing to commit to making monthly payments of $100 dollars, how long will it take me to pay off my credit card? Please show your work.
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Personal Financial Planning
Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk
15th Edition
978-0357438480, 0357438485
