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Patricia M.

asked • 02/15/17

Assume you have a balance of $3,200 on your credit card that you want to pay off. Calculate your monthly payment and the total payment under the given condition

Assume you make no additional charges to the card. The credit card APR is 22% and you want to pay off the balance in 2 years.
 
 
Need help on how to solve this
 
 
A- $142.12; $3.066.34
 
B- $249.91; $5,997.86
 
C-$166.01; $3,984.24
 
D- $199.50; $4,298.87

1 Expert Answer

By:

Serge M. answered • 02/17/17

Tutor
5 (11)

Professor of Accounting, retired. Ph.D., CPA

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