Question: ( Nonannual compounding using a calculator ) Dennis Rodman has a $ 5 0 0 0 debt balance on his Visa card that charges an

(Nonannual compounding using a calculator) Dennis Rodman has a $5000 debt balance on his Visa card that charges an APR of 11.1 percent compounded monthly. Dennis's current minimum monthly payment is 4 percent of his debt balance, $ 200. How many months(round up) will it take Dennis to pay off his credit card if he pays the current miminum payment of $ 200 at the end of each month?

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