1)assume you have a balance of $1,500 on a credit card.
a. if the credit card has an annual interest rate of 13.6% and only the minimum monthly payment of $25 is made, how many months will it take to pay off the credit card?
b. what is the total amount that would be spent to pay off the $1,500 if the monthly payment is $25?
2)assume you have a balance of $1,500 on a credit card.
a. if the credit card has an annual interest rate of 13.6% and a monthly payment of $45 is made, how many months will it take to pay off the credit card?
b. what is the total amount that would be spent to pay off the $1,500 if the monthly payment is $45?
3)assume you have a balance of $1,500 on a credit card.
a. if the credit card has an annual interest rate of 22% and only the minimum monthly payment of $35 is made, how many months will it take to pay off the credit card?
b. what is the total amount that would be spent to pay off the $1,500 if the monthly payment is $35?
4)assume you have a balance of $1,500 on a credit card.
a. if the credit card has an annual interest rate of 22% and a monthly payment of $60 is made, how many months will it take to pay off the credit card?
b. what is the total amount that would be spent to pay off the $1,500 if the monthly payment is $60?