please answer in detail with all work thanks no copy paste Tammy realizes that she has charged too much on her credit card and has racked up $15,000 in debt. If Tammy can pay $350 each month and the card charges 23 percent APR (compounded monthly), how long will it take her to pay off the debt?

please answer in detail with all work thanks no copy paste Tammy realizes that she has charged too much on her credit card and has racked up $15,000 in debt. If Tammy can pay $350 each month and the card charges 23 percent APR (compounded monthly), how long will it take her to pay off the debt?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

please answer in detail with all work thanks no copy paste

Tammy realizes that she has charged too much on her credit card and has racked up $15,000 in debt. If Tammy can pay $350 each month and the card charges 23 percent APR (compounded monthly), how long will it take her to pay off the debt?
, how much interest will Tammy pay if she chooses to continue in making monthly payments of $350?

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