Question
Thom owes $7,200 on his credit card. The credit card carries an APR of 18.4 percent compounded monthly. If Thom makes payments of $225 per
Thom owes $7,200 on his credit card. The credit card carries an APR of 18.4 percent compounded monthly. If Thom makes payments of $225 per month, how long will it take for him to pay off the credit card assuming that he makes no additional charges?
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It would take Thom 32 months to pay off his credit card 7200 x 184 1316 131632 41 225 41 184 7200 18...
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Accounting
Authors: Carl s. warren, James m. reeve, Philip e. fess
21st Edition
978-0324400205, 324225016, 324188005, 324400209, 9780324225013, 978-0324188004
