Question:

Using the minimum payment balance formula You have a credit

Last updated: 7/20/2023

Using the minimum payment balance formula You have a credit

Using the minimum payment balance formula You have a credit card with an APR of 24 The card requires a minimum monthly payment of 5 of the balance You have a balance of 5500 You stop charging and make only the minimum monthl payment What is the balance on the card after three years Enter your answer rounded to the nearest cent