Herrera Salinas
07/14/2023 · Senior High School

You have \( \$ 3,500 \) on a credit card that charges a \( 16 \% \) interest rate. If you want to pay off the credit card in 4 years, how much will you need to pay each month (assuming you don't charge anything new to the card)? Enter an integer or decimal number (more..)

Upstudy ThothAI Solution

Tutor-Verified Answer

Quick Answer

The monthly payment to pay off the credit card in 4 years is approximately $560.45.

Step-by-step Solution

Answered by UpStudy AI and reviewed by a Professional Tutor
UpStudy ThothAI
Self-Developed and Ever-Improving
Thoth AI product is constantly being upgraded and optimized.
Covers All Major Subjects
Capable of handling homework in math, chemistry, biology, physics, and more.
Instant and Accurate
Provides immediate and precise solutions and guidance.
Try Now
Ask Tutors
Ask AI
10x
Fastest way to Get Answers & Solutions
By text

Enter your question here…

By image
Re-Upload
Uploaded Files
xxxx.png0%
Submit
📸 STUDY CAN BE A REAL STRUGGLE
Why Not UpStudy It?
Select your plan below
Premium

You can enjoy

  • Step-by-step explanations
  • 24/7 expert live tutors
  • Unlimited number of questions
  • No interruptions
  • Full access to answer and
    solution
  • Full Access to PDF Chat, UpStudy Chat, Browsing Chat
Basic
  • Limited Solutions