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Assume You Have a Balance of $3200 on Your Credit

Question 211

Multiple Choice

Assume you have a balance of $3200 on your credit card that you want to pay off. Calculate your monthly payment andtotal payment under the given conditions. Assume you make no additional charges to the card.
-The credit card APR is 19% and you want to pay off the balance in 1 year.


A) $252.52; $3030.19
B) $443.92; $5327.04
C) $294.90; $3538.81
D) $354.38; $4252.60

Correct Answer:

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