Question: This is a 4 part question, please answer the following... 1) Karen has a Macy's credit card. The card has a balance of $2088.74 with
This is a 4 part question, please answer the following...
1) Karen has a Macy's credit card. The card has a balance of $2088.74 with an APR of 28.99%. Macy's expects the minimum payment to be 3.9% of the balance. What is Karen's minimum payment? How long will it take Karen to pay off her Macy's credit card? How much interest will Karen pay if she only pays the minimum payment? Show steps
2) The balance of my Target credit card is $3159 with an APR of 22.35%. What are my finance charges for the month of January?
A: $77.68
B: $85
C: $62.96
D: $59.96
3) Laura has a Target credit card. The card has a balance of $3218.62 with an APR of 23.75%. The Target expects the minimum payment to be 3.4% of the balance. What is Laura's minimum payment? How long will it take Laura to pay off her Target credit card? How much interest will Laura pay if she only pays the minimum payment?
A: Minimum payment-
B: Months to payoff-
C: Interest-
4) April has a QuikTrip credit card. The card has a balance of $1218.62 with an APR of 26.75%. The QuikTrip expects the minimum payment to be 4.1% of the balance. What is April's minimum payment? How long will it take April to pay off her QuikTrip credit card? How much interest will April pay if she only pays the minimum payment?
A: Minimum payment (Round to nearest dollar)-
B: Months to payoff-
C: Interest-
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