Joey realizes that he has charged too much on his credit card and has racked up $5,000

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Joey realizes that he has charged too much on his credit card and has racked up $5,000 in debt. If he can pay $150 each month and the card charges 18 percent, APR (compounded monthly), how long will it take him to pay off the debt?

*Please show the formula and the process to get to the result.

Posted Date: May 18, 2024 03:11 PM

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Joey realizes that he has charged too much on his credit card and has racked up $5,000

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