You have $12,000 in credit card debt and have finally decided to start to really pay...

You have $12,000 in credit card debt and have finally decided to start to really pay it off. You determine that you’ll be able to make the following monthly payments. The APR on your credit card is 22%. Your first payment is today. How much will you owe after your last payment?

Month	Payment
1	2000
2	2000
3	1500
4	1500
5	1500
6	1000
7	1000
8	500
9	500
10	500

		$842.19
		$0.00
		$785.60
		$1044.68

Expert Solution

The answer is $1044.68

Calc:

jeff jeffy answered 3 years ago

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