question archive Tom has a credit card with an APR of 24
Tom has a credit card with an APR of 24
Subject:MathPrice:2.86 Bought3
Tom has a credit card with an APR of 24.95% and a current balance of $13,650.35. He wants to pay it off in 3 years. What will Tom's monthly payment be?
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1.) $662.99
Step-by-step explanation
1.) I=PRT=13,650.35 (24.95%) (3)= 13,650.35 (0.2495) (3)=$10,217.28698
Total money=13,650.35 +10,217.28698= $23,867.64
3years= 36 months
$23,867.64/36=$662.99- Tom's monthly payment
