Ramiro is also a college student. He has a credit card balance of $500.00. The APR on his card is 18.24%. His minimum payment is $10.00. (do not use commas or dollar signs in the answers)

How much will he pay in all?

Question

Mathematics

Ray Mooney

24 June, 12:06

Ramiro is also a college student. He has a credit card balance of $500.00. The APR on his card is 18.24%. His minimum payment is $10.00. (do not use commas or dollar signs in the answers)

How much will he pay in all?

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Answers (1)

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Ezra Maynard · Answer 1

No of Monthly payments it would take to pay off his credit card = $94.601 per month

Step-by-step explanation:

If Ramiro made monthly payments at the end of each month, how long would it take to pay off his credit card?

No of Monthly payment it would take to pay off his credit card = nper (rate, pmt, pv, fv)

No of Monthly payment it would take to pay off his credit card = nper (18.24%/12,10,-500,0)

No of Monthly payment it would take to pay off his credit card = $94.601 per month.

Ramiro is also a college student. He has a credit card balance of $500.00. The APR on his card is 18.24%. His minimum payment is $10.00. (do not use commas or dollar signs in the answers)How much will he pay in all?

Ramiro is also a college student. He has a credit card balance of $500.00. The APR on his card is 18.24%. His minimum payment is $10.00. (do not use commas or dollar signs in the answers)

How much will he pay in all?