question archive Laura has a Target credit card
Laura has a Target credit card
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Laura has a Target credit card. The card has a balance of $3218.62 with an APR of 23.75%. The Target expects the minimum payment to be 3.4% of the balance. What is Laura's minimum payment? How long will it take Laura to pay off her Target credit card? How much interest will Laura pay if she only pays the minimum payment?
Minimum payment
Months to payoff
Interest
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Minimum payment = $109.43
Months to payoff = 44.52
Interest = $1,653.41
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