A career counselor decides to make monthly payments of $150 on credit card debt of $3,496.55 and discontinue using that credit card. Assuming the monthly interest rate is 1.85%, it will take the counselor approximately 31 months to repay the debt. How many fewer months would it take to repay the debt if the counselor makes monthly payments of $2007 (Round your answer to the nearest month.) months Need Help? Read Iit Watch It
A career counselor decides to make monthly payments of $150 on credit card debt of $3,496.55 and discontinue using that credit card. Assuming the monthly interest rate is 1.85%, it will take the counselor approximately 31 months to repay the debt. How many fewer months would it take to repay the debt if the counselor makes monthly payments of $2007 (Round your answer to the nearest month.) months Need Help? Read Iit Watch It
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
Chapter6: Using Credit
Section: Chapter Questions
Problem 7FPE
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