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You used your credit card to spend $6,200 to buy home theater equipment. The interest rate that your credit card company charges is 14.9 percent,

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You used your credit card to spend $6,200 to buy home theater equipment. The interest rate that your credit card company charges is 14.9 percent, compounded monthly. Calculate how long it will take you to pay off this balance on your credit card assuming that you do not charge anything else and make $120 payments every month? Multiple Choice 5.87 years 6.93 years 6.40 years 7.23 years 7.31 years

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