Suppose you have a balance of $15000 on your credit card, which has an of APR 24% and requires a minimum payment of 2%. You will stop charging and begin making only the minimum monthly payment Complete the following sentences. 1. The balance on your account after 24 minimum monthly payments is S Round your final answer to the nearest penny and do not include the s in your answer. 2. It will take minimum monthly payments for the balance of the account to drop below $3750.
Suppose you have a balance of $15000 on your credit card, which has an of APR 24% and requires a minimum payment of 2%. You will stop charging and begin making only the minimum monthly payment Complete the following sentences. 1. The balance on your account after 24 minimum monthly payments is S Round your final answer to the nearest penny and do not include the s in your answer. 2. It will take minimum monthly payments for the balance of the account to drop below $3750.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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