Caitlin has a balance of $4,880 on her credit card that has an APR of 16%. She currently pays the minimum monthly payment of $105.86. If Caitlin wants to pay off her balance in 20 months, determine the monthly payment she would need to make. Choose the following modification with the least cuts to her current expenses that will allow Caitlin to pay off her balance in 20 months.
a.
Caitlin can eliminate $100 from Food/Clothes and $85 from Entertainment.
b.
Caitlin can eliminate $62 from Food/Clothes and $49 from Entertainment.
c.
Caitlin can eliminate $54 from Food/Clothes and $120 from Entertainment.
d.
The minimum payment is enough to pay off the balance within 20 mo
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Caitlin has a balance of $4,880 on her credit card that has an APR of 16%. She currently pays the minimum monthly payment of $105.86. If ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
The next number in the sequence - 5, - 2, 4, 13 is 25. Is this conjecture true or false? True False Not enough info is provided.
Answers (1)
Grantsville Copper Mines employs 1,400 workers. The company must lay off 5% of its work force immediately and another 20% of the remaining work force by the end of the year. How many workers will be laid off? A.) 336 B.) 280 C.) 210 D.) 70
Answers (1)
I just need clarification. If a rectangular prism has the dimensions of 10 by 4 by 6, The volume would be 240 in³ and the surface area would be 248 in² right?
Answers (2)
Which is a better buy $2.90 for 5 bags of skittles or $4.56 for 8 bags of skittles
Answers (1)
If a 25 in. by 32 in. window has a wooden frame 2 inches wide surrounding it, what is the total area of the window and frame? 1044 inches 1036 sq. inches 580 inches 1044 sq. inches
Answers (1)
New Questions in Mathematics
How does the volume of a sphere with radius 2cm compare to the volume of a sphere with radius 1cm
Answers (1)
6 yards to 36 yards. Find the percent of change. Round to the nearest tenth of a percent if necessary.
Answers (1)
Mark, evan, and cayla are playing a game. there are 3 blue marbles, 2 red, and 1 green marble. if mark pulls a blue marble he gets $1. if evan pulls a red marble, he gets a $2. if cayla pulls a green marble, she gets $3.
Answers (1)
How do you reduce 12/30 by 1/2
Answers (1)
Maria's age of 17 years less than Orlando's age. The sum of their ages is 33 find their ages.
Answers (1)