You have a credit card with a balance of $10,000 and an APR of 16.8 percent compounded monthly. You have been making monthly payments of $200 per month, but you have received a substantial raise and will increase your monthly payments to $250 per month. How many months quicker will you be able to pay off the account?

Multiple Choice

• 10.00 months

• 23.61 months

• 24.79 months

• 27.55 months

• 25.71 months