Question: Note: Enter your answer and show all the steps that you use to solve this problem in the space provided. You have a credit card

Note: Enter your answer and show all the steps that you use to solve this problem in the space provided.

You have a credit card with a balance of $1,367.90 at a 9.5% APR. You pay $400.00 each month on the due date until the card is paid off. How many months does it take to pay off the card, and what is the total amount paid including interest?

Be sure to include in your response:

  • the answer to the original question
  • the mathematical steps for solving the problem demonstrating mathematical reasoning

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!