Question
You have accumulated $5,000 in credit card debt. Your credit card rate is 9.5% APR and you are charged interest every month on the unpaid
You have accumulated $5,000 in credit card debt. Your credit card rate is 9.5% APR and you are charged interest every month on the unpaid balance on your account. If you pay $500 a month and incur no new debt, how long will it take you to pay off your credit card balance? The answer is 10.46 months but what is the steps to find it?
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Guardians Of Finance
Authors: James R. Barth, Gerard Caprio, Ross Levine
1st Edition
0262526840, 978-0262526845
