Mathematics

29 March, 10:36

Cesar is excited that he only has 12 months left before he pays off his credit card completely. His current balance is $3,750 and his APR is 17.5%. But when he is involved in a car accident, he is forced to use his credit card to pay a $1,000 deductible to get his car fixed. How much will Cesar's minimum monthly payment increase if he still wants to pay off his credit card in 12 months?

a.

$83.33

b.

$91.44

c.

$342.91

d.

$434.35

+3

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