You built up a balance of $25,000 on your Bank Three credit card, which charges an APR (monthly compounding) of 24%. You can transfer your balance to a new credit card from Oak Tree Savings, which charges an APR (monthly compounding) of 12%. You plan to make payments of $810 per month on your debt. 

How many fewer payments will you have to make to pay off this debt with the Oak Tree card versus the Bank Three card? Round your answer down to a whole number. So, for example, your answer is any value between 21.01 and 21.99, round down to 21.

Answer rating: 100% (QA)

To determine how many fewer payments you will have to make to pay off the debt with the Oak Tree car... View the full answer