SOLUTION: You have $2,500 on a credit card that charges a 22% interest rate. If you want to pay off the credit card in 5 years, how much will you need to pay each month (assuming you don't c

Question 1174306: You have $2,500 on a credit card that charges a 22% interest rate. If you want to pay off the credit card in 5 years, how much will you need to pay each month (assuming you don't charge anything new to the card)?
Found 2 solutions by ikleyn, MathTherapy:
Answer by ikleyn(52817) (Show Source): You can put this solution on YOUR website!

Answer by MathTherapy(10555) (Show Source): You can put this solution on YOUR website!

You have $2,500 on a credit card that charges a 22% interest rate. If you want to pay off the credit card in 5 years, how much will you need to pay each month (assuming you don't charge anything new to the card)?

RELATED QUESTIONS
You have $2,500 on a credit card that charges a 17% interest rate. If you want to pay off (answered by MathLover1,math_tutor2020)
You have $2,000 on a credit card that charges a 22% interest rate. If you want to pay off (answered by CPhill,ikleyn)
you have 2,000 on a credit card that charge a 18% interest rate if you want to pay off... (answered by Theo,ikleyn)
You have $4,500 on a credit card that charges a 17% interest rate. If you want to pay off (answered by Theo)
You have $3,500 on a credit card that charges a 21% interest rate. If you want to pay off (answered by Theo,MathTherapy)
You have $3,000 on a credit card that charges a 23% interest rate. If you want to pay off (answered by solver91311)
I owed my sister $2,000 in September that she charged on her credit card. Credit card has (answered by Theo)
My teacher didn't give me any formulas for these things.. please help me!! T~T 1. You (answered by KMST)
Hak Young has accumulated some credit card debt while he was in college. His total debt... (answered by Theo,math_tutor2020)