You have just entered college and have decided to pay for your living expenses using a credit card that has no minimum monthly payment. You intend to charge $1,200 per month on the card for the next 45 months. The card carries a monthly interest rate of 1.2%. How much money will you owe on the card 46 months from now, when you receive your first statement post-graduation? After 45 months you will owe $____________________ (Round to the nearest cent.)

You have just entered college and have decided to pay for your living expenses using a credit card that has no minimum monthly payment. You intend to charge $1,200 per month on the card for the next...

You have just entered college and have decided to pay for your living expenses using a credit card that has no minimum monthly payment. You intend to charge

$1,200

per month on the card for the next

months. The card carries a monthly interest rate of

1.2%.

How much money will you owe on the card

months from now, when you receive your first statement post-graduation?

After

months you will owe

$____________________

(Round to the nearest cent.)

Jun 03, 2022

SOLUTION.PDF

You have just entered college and have decided to pay for your living expenses using a credit card that has no minimum monthly payment. You intend to charge $1,200 per month on the card for the next...

Get Answer To This Question

Related Questions & Answers

Submit New Assignment