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Mathematics, 09.12.2020 19:00 kyledsmith18
Michael has credit card debt of $75,000 that has an 12% APR, compounded monthly. The minimum payment only the requires him to pay the interest on his debt. He receives an offer for a credit with an APR of 4% compounded monthly. If he rolls over his debt onto his card and makes the same monthly payment as before, how long will it take him to pay off his credit card debt?
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Michael has credit card debt of $75,000 that has an 12% APR, compounded monthly. The minimum payment...
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