Laura's credit card balance this month is $449.00. Her APR (annual percentage rate) is 14.8 %. The minimum payment due is $

Question

3 years ago

8

Laura's credit card balance this month is $449.00. Her APR (annual percentage rate) is 14.8 %. The minimum payment due is $

15.00. If she pays only the minimum each month and does not add any more charges, how long will it take her to pay off the entire balance?
answer choices:
-about 1 year
-about 10 years
-about 6 years
-about 3 years

Mathematics

1 answer:

Darya [45] · Answer 1 · 2022-01-27T03:09:19+03:00

Credit Card Balance: $449.00

Interest Rate: 14.8%

Minimum Payment: $15.00

It will take Laura 3 years, and 2 months to pay off the balance. The total interest would be $114.50

Hope that helps!!!!! (Answer: 3 years and 2 months it will take Laura to pay entire balance on credit card.).

Laura's credit card balance this month is​ $449.00. Her APR​ (annual percentage​ rate) is 14.8​ %. The minimum payment due is​ $

Laura's credit card balance this month is $449.00. Her APR (annual percentage rate) is 14.8 %. The minimum payment due is $