You Have an $8000 Balance on Your Credit Card,which Charges

question 24

Multiple Choice

You have an $8000 balance on your credit card,which charges 18% interest annually (1.5 per month) .If you can afford to pay $100 per month,how many months will it take to pay the credit card in full?

• A)170 months
• B)14 months
• C)162 months
• D)You will never get the card paid off at that rate.

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Definitions:

Specified Output

A defined amount or quality of work that must be produced, typically set as a target or requirement.

Division Profits

The earnings attributed to a specific division or segment within a larger company.

Profit Centers

Segments or areas within a business that are responsible for generating profit, with their performance measured based on the income they produce.

Decision Making

The method of selecting options through recognizing a decision to be made, collecting data, and evaluating different solutions.