Amy has accumulated a credit card debt of $7,100 and she has decided to pay it off over the next 3 years. Catculate her monthly payments (end of month) if her credit card charges interest at 12=18%.
Amy has accumulated a credit card debt of $7,100 and she has decided to pay it off over the next 3 years. Catculate her monthly payments (end of month) if her credit card charges interest at 12=18%.
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 25PROB
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Transcribed Image Text:Amy has accumulated a credit card debt of $7,100 and she has decided to pay it off
over the next 3 years.
Calculate her monthly payments (end of month) if her credit card charges interest at
İ12=18%.
Your Answer:
10
11
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