Multiple Choice
Number of Annuity Payments Joey realizes that he has charged too much on his credit card and has racked up $3,000 in debt.If he can pay $150 each month and the card charges 18 percent APR (compounded monthly) ,how long will it take him to pay off the debt?
A) 13.03 months
B) 14.68 months
C) 20.00 months
D) 23.96 months
Correct Answer:
Verified
Correct Answer:
Verified
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