Use PMT = -nt to determine the regular payment amount, rounded to the nearest dollar. Your credit card has a balance of $5200 and an annual interest rate
HOUNCEMENT
1 -
H CLASS
of 18%. With no further purchases charged to the card and the balance being paid off over four years, the monthly payment is $153, and the total interest paid is $2144.
You can get a bank loan at 10.5% with a term of five years. Complete parts (a) and (b) below.
GNMENTS
a. How much will you pay each month? How does this compare with the credit
card payment each month? Select the correct choice below and fill in the answer boxes
to complete your choice.
b. how much total interest will you pay? How does this compare with the total credit card interest? So like the correct choice below and building the enter boxes to complete your choice