Jesse owes $8,473 on a credit card with a 21.5% interest rate. What is the monthly payment he should make to pay off this debt i
n 12 months, assuming he does not charge any more purchases with the card?
1)
$706.08
2)
$164.57
3)
$790.99
4)
$2,016.54
1)
$706.08
2)
$164.57
3)
$790.99
4)
$2,016.54
1 answer:
You can use an online credit card calculator in computing the monthly payment. Refer to the attachment for the answer and graph. The given are the following: balance - 8,473; interest rate - 21.5%; months - 12. The answer is the third option - you'll need to pay <span>$790.99 every month for 12 months.</span>
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Step-by-step explanation: