Dennis Rodman has a $5,500 debt balance on his Visa card that charges an APR of 8 percent compounded monthly. Dennis's current minimum monthly payment is 4 percent of his debt balance, $220. How many months (round up) will it take Dennis to pay off his credit card if he pays the current minimum payment of $220 at the end of each month
+1
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Dennis Rodman has a $5,500 debt balance on his Visa card that charges an APR of 8 percent compounded monthly. Dennis's current minimum ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Home » Business » Dennis Rodman has a $5,500 debt balance on his Visa card that charges an APR of 8 percent compounded monthly. Dennis's current minimum monthly payment is 4 percent of his debt balance, $220.