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Thorn owes $6400 on his credit card. The credit carries an APR of 1.8percent compounded monthly. If Thorn makes monthly payments of $205 per month,
Thorn owes $6400 on his credit card. The credit carries an APR of 1.8percent compounded monthly. If Thorn makes monthly payments of $205 per month, how long will it take for him pay off the credit assuming that he makes no additional charges?
a. 42.43months
b. 31.22 months
c. 45.69months
d. 11.42months
e. 39.60months
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