Question
You owe $3629 on your credit card which has a 17.2% APR. (a) How much interest do you get charged this month on your balance
You owe $3629 on your credit card which has a 17.2% APR. (a) How much interest do you get charged this month on your balance of $3629? (b) You make a payment of $850. What is your new balance for the next month? (c) How many total months will it take you to pay off the debt if you continue to make $850 payments each month (the last month you would pay just what you owe)? (a) The interest is $ _______. (Round to the nearest cent as needed.) (b) The new balance for the next month is $ _______. (Round to the nearest cent as needed.) (c) It would take _____ payments to pay off the debt.
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