ou have a credit card balance of $2,000 and are able to make payments of $50 per month. Assume the credit card company charges an annual interest rate of 14% (1.16667% per month). How many months will it take to pay off the balance. Assume no other purchases. Just write the two digit number...no label.
ou have a credit card balance of $2,000 and are able to make payments of $50 per month. Assume the credit card company charges an annual interest rate of 14% (1.16667% per month). How many months will it take to pay off the balance. Assume no other purchases. Just write the two digit number...no label.
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 21MC: A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an...
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You have a credit card balance of $2,000 and are able to make payments of $50 per month. Assume the credit card company charges an annual interest rate of 14% (1.16667% per month). How many months will it take to pay off the balance. Assume no other purchases. Just write the two digit number...no label.
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