Answered step by step
Verified Expert Solution
Question
1 Approved Answer
You have $4,800 of credit card debt you've amassed during your time as a student. Some of it legitimate, some fun, but either way -
You have $4,800 of credit card debt you've amassed during your time as a student. Some of it legitimate, some fun, but either way - here you are.
The APR is 18%; charging 1.5% interest per month. The credit card has an annual fee of $99 that will accrue in January of the year following your graduation.
How long until this credit card was paid off if you dedicated $200 a month towards this goal?
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