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| Teaching Since: | May 2017 |
| Last Sign in: | 286 Weeks Ago, 3 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
Â
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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