<PRE><B>Question 1207204</B>

given:

present value{{{ P=2500}}}

desired future value {{{FV=0}}}

interest rate {{{r=17}}}%={{{0.17}}}

{{{n=4}}} years 
{{{m=12}}} months


find monthly payment {{{M}}} using formula:


{{{M=P(r/m)/(1-(1+r/m)^(-m*n))}}}

{{{M=2500(0.17/12)/(1-(1+0.17/12)^(-12*4))}}}

{{{M=72.14}}}

You must make monthly payments of ${{{72.14}}} to pay off your credit card balance of ${{{2500}}} in {{{48}}} months or {{{4}}} years. 
This assumes you do not make any additional charges during this period and make your payments on time.

</PRE>