The annual interest rate on a credit card is 16.99%. If a payment of $300.00 is made each month, how many months will it take to pay off an unpaid balance of $2,488.09? Assume that no new purchases are made with the credit card months to pay off the unpaid balance It will take (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 16.99%. If a payment of $300.00 is made each month, how many months will it take to pay off an unpaid balance of $2,488.09? Assume that no new purchases are made with the credit card months to pay off the unpaid balance It will take (Do not round until the final answer. Then round up to the nearest integer as needed.)
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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