Loans You have a $6,000 credit card debt, and you plan to pay it off through monthly payments of $150. If you are being charged 15% interest per year, how long (to the nearest 0.5 years) will it take you to repay your debt?
Loans You have a $6,000 credit card debt, and you plan to pay it off through monthly payments of $150. If you are being charged 15% interest per year, how long (to the nearest 0.5 years) will it take you to repay your debt?
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter7: Using Consumer Loans
Section: Chapter Questions
Problem 7FPE: Calculating interest and APR of installment loan. Assuming that interest is the only finance charge,...
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Loans You have a $6,000 credit card debt, and you plan to pay it off through monthly payments of $150. If you are being charged 15% interest per year, how long (to the nearest 0.5 years) will it take you to repay your debt?
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