Question
You have accumulated 1000 in credit card debt. Your interest rate is 18% per year and you will pay it off 55 months. (1) What
You have accumulated 1000 in credit card debt. Your interest rate is 18% per year and you will pay it off 55 months.
(1) What is your monthly payment?
(2) How much interest will you end up paying?
(3) Now assume that you will pay an extra $10 per month on top of your regard monthly payments so that you will pay it off in only 35 months. How much interest will you save?
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Production And Operations Analytics
Authors: Steven Nahmias, Tava Lennon Olsen
8th Edition
1478639261, 9781478639268
