logistic_guy
Full Member
- Joined
- Apr 17, 2024
- Messages
- 617
Suppose you owe \(\displaystyle \$8,502.25\) on a credit card. Realizing that this is not a good thing, you vow to make no more charges to the card and work hard to pay the balance off. The interest rate is \(\displaystyle 18.75\%\). How long will it take to pay off this balance assuming you pay
(a) \(\displaystyle \$125\) per month,
(b) \(\displaystyle \$250\) per month,
(c) \(\displaystyle \$500\) per month?
(a) \(\displaystyle \$125\) per month,
(b) \(\displaystyle \$250\) per month,
(c) \(\displaystyle \$500\) per month?