Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The annual interest rate on a credit card is 17.99%. If a payment of $200.00 is made each month, how many months will it take

image text in transcribed

The annual interest rate on a credit card is 17.99%. If a payment of $200.00 is made each month, how many months will it take to pay off an unpaid balance of $2,579.45? Assume that no new purchases are made with the credit card. It will take months to pay off the unpaid balance. (Do not round until the final answer. Then round up to the nearest integer as needed.) C

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Entrepreneurial Finance

Authors: Simon Hulme, Chris Drew

1st Edition

1352009811, 978-1352009811

More Books

Students also viewed these Finance questions

Question

Why is 'purpose' important in technical writing?

Answered: 1 week ago

Question

How will the members be held accountable?

Answered: 1 week ago

Question

a. Do team members trust each other?

Answered: 1 week ago