A career counselor decides to make monthly payments of $150 on a credit card debt of $3,447.67 and discontinue using that credit card. Assuming the monthly interest rate is 1.65%, it will take the counselor approximately 30 months to repay the debt. How many fewer months would it take to repay the debt if the counselor makes monthly payments of $200? (Round your answer to the nearest month.)

Answer rating: 100% (QA)

The first step is to calculate the monthly interest charge on the debt which is 344767 165 5708 Next ... View the full answer