How do I do this? Please help. Bethany opened a store credit card to purchase a TV for $589. She put the entire purchase on the credit card. Her APR is 29.99% and the minimum payment is 5%. Assuming she makes only minimum payments, what is the remaining balance on her card after 3 months?

Question

How do I do this? Please help.    Bethany opened a store credit card to purchase a TV for $589. She put the entire purchase on the credit card. Her APR is 29.99% and the minimum payment is 5%. Assuming she makes only minimum payments, what is the remaining balance on her card after 3 months?

jim_thompson5910 · Answer

Are the payments fixed? Or are they always 5% of the remaining balance for that month?