You have $5,000 in credit card debt. Which statement is true if you plan to make the minimum payment each month?

A.

To calculate the present value of your debt, you should discount the monthly cash flow payments using an EAR (effective annual rate)

B.

To calculate the present value of your debt, you should discount the monthly cash flow payments using an APR (annual percentage rate)

C.

To calculate the present value of your debt, you should adjust the monthly payment to an annual payment and use the EAR (effective annual rate) as a discount rate

D.

To calculate the present value of your debt, you should discount the monthly payments using a monthly periodic interest rate