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

question 2

Multiple Choice

You have an $8000 balance on your credit card,which charges 12% interest annually (1% 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:

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