Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Using the Foolish Calculators https://www.calcxml.com/calculators/how-long-will-it-take-to-pay-off-my-credit-card?skn=606&r=1Links to an external site. , calculate the time it will take to pay off $6,000 in credit card debt at
Using the Foolish Calculators https://www.calcxml.com/calculators/how-long-will-it-take-to-pay-off-my-credit-card?skn=606&r=1Links to an external site. , calculate the time it will take to pay off $6,000 in credit card debt at a rate of 19% assuming you pay the minimum of 2% or $120 each month?
How long?
Total interest paid?
Now let's say you want to pay it off in approximately 3 years, how much will you need to pay each month?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started