Question

You have a balance of $4,000 on your credit card with a 12% interest rate (1% per month). You plan to make no new purchases with the card. You want to reduce your balance to zero over the next year. Which monthly payment is most likely to accomplish this in 11 or 12 months?

a) $100
b) $250
c) $400
d) $1,000
Will fan and medal

Answer 1

c

Answer 2

thank you

Answer 3

its really an approcimation tho
like if im correct the actuall answer is like 333