asked 35.1k views
4 votes
You have a balance of $4,000 on your credit card with a 12% interest rate (1% per month). You plan to make no new purchases with the card. You want to reduce your balance to zero over the next year. Which monthly payment is most likely to accomplish this in 11 or 12 months?

2 Answers

6 votes

Answer:

C) $400

Step-by-step explanation:

I got it right

answered
User Zawad
by
8.1k points
3 votes
I believe it's about $400.

Hope this helped!
answered
User DaFois
by
8.1k points

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