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Susan recently received a credit card with a nominal interest rate of 17 percent. With the card, she purchased some new clothes for $375. The
- Susan recently received a credit card with a nominal interest rate of 17 percent. With the card, she purchased some new clothes for $375. The minimum payment on the card is only $20 per month. If Susan makes the minimum monthly payment and makes no other charges, how long will it be before she pays off the card?
| 21.9 months |
| The card will never be paid off. |
| 13.2 months |
| 9.2 months |
| 27.4 months |
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Public Finance In Theory And Practice
Authors: Richard Abel Musgrave, Peggy B. Muscrave
5th Edition
0070441278, 978-0070441279
