anthonyhulknandez
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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?

Respuesta :

mrlucero128

It's going to take 4 Months and will have $232.1 to spare

1,367.90 - 400 = 967.9

967.9 - 400 = 567.9

567.9 - 400 = 167.9

400 - 167.9 = 232.1

Answer:

It will take 4 months to pay off the card.

Step-by-step explanation:

Here total loan is of = $1367.90

r = 9.5%

Monthly EMI = $400

It will take 4 months to pay off the card.

You can find the excel sheet attached, with the solution.

Ver imagen chisnau

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