Use a spreadsheet to calculate how many payments it would take for Shandra to pay off her vacation if she paid the minimum $48 per month. __________Payments
Use a spreadsheet to calculate how many payments it would take for Shandra to pay off her vacation if she paid the minimum $48 per month. __________Payments
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Shandra and her friends were planning on going on a trip to the Caribbean over Christmas break. She had never owned a credit card before, and her college-student budget and bank accounts couldn’t absorb the entire cost of the trip. She opened a new credit card to pay for the remainder of the plane ticket and hotel fees. The card had a $3,000 credit limit with a 23.20% interest rate. The balance on her card at the end of the month was $1380. Assume that she added no new charges to the card.
Use a spreadsheet to calculate how many payments it would take for Shandra to pay off her vacation if she paid the minimum $48 per month.
__________Payments
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