Jane has a credit card balance of $21,000. The annual interest rate is 20%. She is required to pay a minimum of 4% of the outstanding balance, but never less than $40. How many months will it take to pay off the credit card balance if she pays $25 in addition to the required minimum payments? You must show your work on an Excel spreadsheet and place in the designated dropbox. 119 163 102
Jane has a credit card balance of $21,000. The annual interest rate is 20%. She is required to pay a minimum of 4% of the outstanding balance, but never less than $40. How many months will it take to pay off the credit card balance if she pays $25 in addition to the required minimum payments? You must show your work on an Excel spreadsheet and place in the designated dropbox. 119 163 102
Chapter5: Introduction To Business Expenses
Section: Chapter Questions
Problem 61P
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