Serge M. answered • 02/17/17

Tutor

5
(11)
Professor of Accounting, retired. Ph.D., CPA

The credit card balance is the present value of an ordinary annuity whose annual interest and term you are given. The variables are

PV = 3,200

FV = 0

N = 24

i% = 1.8333

PMT = ?

Solving for PMT yields 166.01 and multiply it by 24= ?

Well, I suspect you can do that much. You need to learn this stuff. You will use it all your life.