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| Teaching Since: | May 2017 |
| Last Sign in: | 316 Weeks Ago, 4 Days Ago |
| Questions Answered: | 27237 |
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MCS,MBA(IT), Pursuing PHD
Devry University
Sep-2004 - Aug-2010
Assistant Financial Analyst
NatSteel Holdings Pte Ltd
Aug-2007 - Jul-2017
Suppose that on January 1 you have a balance of $3100
on a credit card whose APR is 16%,
which you want to pay off in 1 year. Assume that you make no additional charges to the card after January 1
a. Calculate your monthly payments.
b. When the card is paid off, how much will you have paid since January 1?
c. What percentage of your total payment from part (b) is interest?
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