Question
Suppose your credit card balance is $15,000. The minimum payment is $315, and the annual percentage rate is 19.6%. A. If you make a constant
Suppose your credit card balance is $15,000. The minimum payment is $315, and the annual percentage rate is 19.6%.
A. If you make a constant monthly payment of $315, how many months will it take you to pay off the balance?
B. How much interest will you pay if you elect to make the minimum monthly payment?
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Investments
Authors: Zvi Bodie, Alex Kane, Alan J. Marcus
10th edition
77861671, 978-0077861674
