Find an Online Tutor Now

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


Serge M. answered • 02/17/17

5 (11)

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

Still looking for help? Get the right answer, fast.

Ask a question for free

Get a free answer to a quick problem.
Most questions answered within 4 hours.


Find an Online Tutor Now

Choose an expert and meet online. No packages or subscriptions, pay only for the time you need.