A landscape architect accrued $7,855.39 in credit card debt. If the architectmakes a monthly payment of $500 (and makes no additional charges onthe account), how many months will it take to repay the debt if the annualinterest rate on the credit card is 18.2% ? (Round your answer up to thenearest month.)

Credit card debt:The sum of funds that a person owes to a credit card issuer is referred to as…

Answered: A landscape architect accrued $7,855.39…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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A landscape architect accrued $7,855.39 in credit card debt. If the architect makes a monthly payment of $500 (and makes no additional charges on the account), how many months will it take to repay the debt if the annual interest rate on the credit card is 18.2 % ? (Round your answer up to the