last one

(Total Costs and Debt Payoff MC)

A borrower has a $7,000 balance on a credit card that charges 15.99% interest, compounded monthly. Which of the following monthly payments would allow the borrower to pay the balance in full after four years?

A spreadsheet was used to calculate the correct answer.Your answer may vary slightly depending on the technology used.

$196.95
$184.34
$153.61
$198.35

Question

last one

(Total Costs and Debt Payoff MC)

A borrower has a $7,000 balance on a credit card that charges 15.99% interest, compounded monthly. Which of the following monthly payments would allow the borrower to pay the balance in full after four years?

A spreadsheet was used to calculate the correct answer.Your answer may vary slightly depending on the technology used.

$196.95
 $184.34
 $153.61
 $198.35

Phantomdex · Answer

The monthly payments that would allow the borrower to pay the balance in full after four years is D. $198.35 I think :>

JayJolt · Answer

@jayjolt

TheJag18 · Answer

great! your a amazing gal. Thank you so much for your help.

Phantomdex · Answer

You're welcome ^^