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Assume You Have a Balance of $3200 on Your Credit $174.02;$6264.60\$ 174.02 ; \$ 6264.60

Question 137

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 18% and you want to pay off the balance in 3 years.


A) $174.02;$6264.60\$ 174.02 ; \$ 6264.60
B) $115.69;$4164.76\$ 115.69 ; \$ 4164.76
C) $138.98;$5003.30\$ 138.98 ; \$ 5003.30
D) $99.08;$3566.93\$ 99.08 ; \$ 3566.93

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