Mathematics

Daniella Wagner

6 September, 00:33

The table shows a schedule of Mr. Kirov's plan for paying off his credit card balance.

Mr. Kirov's Payment Plan

Balance

Payment

New Balance

Rate

Interest

$800.00

$100

$700.00

0.012

$8.40

$708.40

$100

$608.40

0.012

$7.30

$615.70

$100

$515.70

0.012

$6.19

If Mr. Kirov continues to make monthly payments of $100 and does not make any new purchases, how many more payments will he need to make before the balance is 0?

4 payments

5 payments

6 payments

7 payments