Today, you borrowed $$3,200$ on a credit card that charges an interest rate of $12\mathrm{.}9$ percent compounded monthly. How long will it take you to pay off this debt assuming that you do not charge anything else and make regular monthly payments of $$60?$

Question $6$ Answer

a$.$

$6.$ years

b$.$

$7$ years

c$.$

$5.$ years

d$.$

$8$ years

e$.$

$9$ years