Number of Annuity Payments Phoebe realizes that she has charged too much on her credit card and has racked up $10,000 in debt. If she can pay $300 each month and the card charges 18 percent APR (compounded monthly), how long will it take her to pay off the debt? Group of answer choices 1. 33.33 months 2. 27.23 months 3. 46.56 months 4. 69.70 months
Number of Annuity Payments Phoebe realizes that she has charged too much on her credit card and has racked up $10,000 in debt. If she can pay $300 each month and the card charges 18 percent APR (compounded monthly), how long will it take her to pay off the debt? Group of answer choices 1. 33.33 months 2. 27.23 months 3. 46.56 months 4. 69.70 months
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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Question
Number of
Group of answer choices
1. 33.33 months
2. 27.23 months
3. 46.56 months
4. 69.70 months
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