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QUESTION 11 "Joey has an outstanding credit card balance of $17,000 carrying an APR finance...

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QUESTION 11 "Joey has an outstanding credit card balance of $17,000 carrying an APR finance rate of 20% (note interest will be compounded monthly) and requiring minimum monthly payments of $400 per month. If only the minimum monthly payment of $400/month is made, how many months will it take to pay off this $17,000 credit card balance (assuming no new charges)?" 32.4 83.2 745 38.9 42.5 QUESTION 12 What is the present value of an ordinary $1,100 annuily payment over 18 years if the interest rates are 9 percent (assume annual compounding)?" "S19,800.00 "$3,587 21 Not possible to compute with the data provided "$45.431.47 "$9,631.19" QUESTION 13

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