You have a $4101 credit card debt, and you plan to pay it off through...
90.2K
Verified Solution
Link Copied!
Question
Accounting
You have a $4101 credit card debt, and you plan to pay it off through monthly payments of $63. If you are being charged 15% interest per year, how long (to the nearest tenth of a year) will it take you to repay your debt?
A. 9.0 years
B. 11.3 years
C. 6.8 years
D. 13.5 years
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!