Question: please help abc Simon recently received a credit card with an 18% nominal interest rate. With the card, he purchased an Apple iphone 11 for
Simon recently received a credit card with an 18% nominal interest rate. With the card, he purchased an Apple iphone 11 for $660. The minimum payment on the card is only 510 per month. 3. If Simon makes the minimum monthly payment and makes no other charges, how many months will it be before he pays off the card? Do not round intermediate calculations. Round your answer to the nearest whole number. month(s) b. If Simon makes monthly payments of $35, how many months will it be before he pays off the debt? Do not round intermediate calculations. Round your answer to the nearest whole number. manth(s) c. How much more in total payments will 5 imon make under the $10-a-month plan than under the $353 - month plan? Do not round intermediate calculations. Round your answer to the nearest cent
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
