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You have $12,000 in credit card debt and have finally decided to start to really pay it off. You determine that youll be able to
- You have $12,000 in credit card debt and have finally decided to start to really pay it off. You determine that youll be able to make the following monthly payments. The APR on your credit card is 22%. Your first payment is today. How much will you owe after your last payment?
| Month | Payment |
| 1 | 2000 |
| 2 | 2000 |
| 3 | 1500 |
| 4 | 1500 |
| 5 | 1500 |
| 6 | 1000 |
| 7 | 1000 |
| 8 | 500 |
| 9 | 500 |
| 10 | 500 |
| $842.19 | ||
| $0.00 | ||
| $785.60 | ||
| $1044.68 |
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Accounting for Governmental and Nonprofit Entities
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
18th edition
1260190080, 1260190083, 978-1259917059
