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Suppose your credit card has a balance of 5 100 and an annual interest rate...

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Basic Math

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Suppose your credit card has a balance of 5 100 and an annual interest rate of 14 You decide to pay off the balance over three years If there are no further purchases charged to the card a How much must you pay each month b How much total interest will you pay Now suppose decide to pay off the balance over one year rather than three c How much more must you pay each month d How much less will you pay in total interest OA a 174 b 396 c 284 more per month d 768 less in total interest OC a 181 b 480 c 284 more per month d 936 less in total interest www O B a 181 Use PMT OD a 174 b 1 416 c 284 more per month d 936 less in total interest 1 to determine the payment amount Round to the nearest dollar b 1 164 c 284 more per month d 768 less in total interest PA

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