Riley owes $4,752 on a credit card with a 28.1% interest rate compounded monthly. What monthly payment should she make to pay off this debt in four years, assuming she does not charge any more purchases with the card?

Question

lukecrayonz · Answer

$99.00

 $165.89

 $458.83

 $1,335.32

lukecrayonz · Answer

It's $165.89, correct?

lukecrayonz · Answer

@Mertsj

lukecrayonz · Answer

@satellite73

ganeshie8 · Answer

correct. http://www.wolframalpha.com/input/?i=4752%281%2B.281%2F12%29%5E48+-+x%281-%281+%2B+.281%2F12%29%5E48%29%2F%281-%281%2B.281%2F12%29%29+%3D+0

ganeshie8 · Answer

this is lil tough prob. did u use some formula or calculated the whole thing the hard way

lukecrayonz · Answer

The hard way @ganeshie8 can you help me with more problems if needed?:)

ganeshie8 · Answer

sure these are tough probs il be happy to help if i can :)