Question
You owe $10,000 on a credit card with an interest rate of 15%, which is compounded monthly. If you make payments of $1,000 per month,
You owe $10,000 on a credit card with an interest rate of 15%, which is compounded monthly. If you make payments of $1,000 per month, how many months will it take you to pay off your debt? (Enter the answer to 2 decimal places)
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Intermediate Financial Management
Authors: Eugene BrighamPhillip Daves
1st Edition
0324594712, 9780324594713
