Your credit card balance as of 2/28/2021 is $2536.59. The APR is 12.99%, compounded monthly....
60.1K
Verified Solution
Link Copied!
Question
Finance
Your credit card balance as of 2/28/2021 is $2536.59. The APR is 12.99%, compounded monthly. If you choose to pay a minimum of $50 every month, how long (in months) will it take you to pay off the credit card (assuming you don't add any more on that card)? (Round the answer to the nearest month)
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!