The annual interest rate on a credit card is 13.99%. If a payment of $200 00 is made each month, how many months will it tako to pay off an unpaid balance of $2.372 147 Assumethat no new purchases are made with the credit card.It will takemonths to pay off the unpaid balance(Do not round until the final answer. Then round up to the nearest integer as needed)CHILE

Number of periods, The number of periods is used to calculate the number of years it will take to…

Answered: The annual interest rate on a credit…

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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Similar questions

You can earn .53 percent per month at your bank. If you deposit $3,600, how long must you wait until your account has grown to $6,600? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Number of months
Michela Navarro has $3,956.71 in credit card debt. If she makes a monthly payment of $125 (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 22.1%? Round up to the nearest month.
You have a credit card that has a balance of $6400 at an APR of 13.49%. You plan to pay $300 each month in an effort to clear the debt quickly. How many months will it take you to pay off the balance?
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PA nt (₁+)] the nearest dollar. Your credit card has a balance of $5600 and an annual interest rate of 18%. You decide to pay off the balance over three years. If there are no further purchases charged to the card, a. How much must you pay each month? b. How much total interest will you pay? Use PMT= 1- to determine the regular payment amount, rounded to
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What am I doing wrong?
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