You ran a little short on your spring break vacation, so you put $1,000 on your other credit card. You can afford only the minimum payment of $60 per quarter. The interest rate on the credit card is 18 per year compounded quarterly. How many years will you need to pay off the $1,000? I want to solve this problem using the financial calculator so if your able to show me what to punch in that would be great
You ran a little short on your spring break vacation, so you put $1,000 on your other credit card. You can afford only the minimum payment of $60 per quarter. The interest rate on the credit card is 18 per year compounded quarterly. How many years will you need to pay off the $1,000? I want to solve this problem using the financial calculator so if your able to show me what to punch in that would be great
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 32P
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You ran a little short on your spring break vacation, so you put $1,000 on your other credit card. You can afford only the minimum payment of $60 per quarter. The interest rate on the credit card is 18 per year compounded quarterly. How many years will you need to pay off the $1,000? I want to solve this problem using the financial calculator so if your able to show me what to punch in that would be great
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