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Solve the Problem $5310\$ 5310 Credit Card Debt, and You Plan to Pay It Off

Question 35

Multiple Choice

Solve the problem.
-You have a $5310\$ 5310 credit card debt, and you plan to pay it off through monthly payments of $80\$ 80 . If you are being charged 14%14 \% interest per year, how long (to the nearest tenth of a year) will it take you to repay your debt?


A) 10.7 years
B) 12.8 years
C) 8.6 years
D) 6.4 years

Correct Answer:

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