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Your Christmas ski vacation was great, but it unfortunately ran a bit over budget. All is...

Your Christmas ski vacation was great, but it unfortunately ran a bit over budget. All is not lost, because you just received an offer in the mail to transfer your $13,800 balance from your current credit card, which charges an annual rate of 21.6 percent, to a new credit card charging a rate of 12.2 percent.
  
How much faster could you pay the loan off by making your planned monthly payments of $315 with the new card? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
  
Number of months            

What if there was a fee of 2 percent charged on any balances transferred? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Number of Months

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jeff jeffy answered 2 years ago
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