Question
Suppose your credit card balance is $5,227.54. The minimum payment amount is $75, and the annual percentage rate is 12%. (10 pts) If you make
Suppose your credit card balance is $5,227.54. The minimum payment amount is $75, and the annual percentage rate is 12%. (10 pts) If you make a constant monthly payment of $75, beginning today, how long will it take you to payoff the credit balance? (5 pts) What is the payoff amount in 3 years?
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Basic Finance An Introduction to Financial Institutions, Investments and Management
Authors: Herbert B. Mayo
11th Edition
1285425790, 1285425795, 9781305464988 , 978-1285425795
