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You have a balance of $5000 on your credit card, which charges an interest rate of 1.3% per month. Looking at your budget, you figure
You have a balance of $5000 on your credit card, which charges an interest rate of 1.3% per month. Looking at your budget, you figure you can make the following payments. Will they be enough to pay off your credit card?
Month 1: $470
Month 2: $530
Month 3: $590
Month 4: $650
Month 5: $710
Month 6: $770
Month 7: $830
Month 8: $890
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