annuties and sinking found,

Question

You have a $1,000 credit card debt, and you plan to pay it off through monthly payments of $25. If you are being charged 15% interest per year, how long (to the nearest 0.5 years) will it take to repay your debt?
yr

Answer 1

borro 1,000$, 15%, pae 25$/month...

take 56 months (4 yr 8 months) tu pae off kredit kard

total pae=1,394.97$

& than assume yu dont yuze the kard over that time span

& rules dont chaenj, & interest rate stae same