The annual interest rate on a credit card is 13.99%. If the minimum payment of $10 is made each month, how many months will it take to pay off an unpaid balance of $841.21? Assume that no new purchases are made with the credit card. RIOR It will take 59 months to pay off the unpaid balance. (Do not round until the final answer. Then round up to the nearest integer as needed.)

The annual interest rate on a credit card is 13.99%. If the minimum payment of $10 is made each month, how many months will it take to pay off an unpaid balance of $841.21? Assume that no new purchases are made with the credit card. RIOR It will take 59 months to pay off the unpaid balance. (Do not round until the final answer. Then round up to the nearest integer as needed.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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