Edgar accumulated $5,000 in credit card debt. If the interest rate is 20% per year...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Edgar accumulated $ in credit card debt. If the interest rate is per year and he does not make any payments for years, how much will he owe on this debt in years with monthly compounding? Round your answer to the nearest cent.Do NOT round until you calculate the final answer
Edgar accumulated $ in credit card debt. If the interest rate is per year and he does not make any payments for years, how much will he owe on this debt in years with monthly compounding? Round your answer to the nearest cent.Do NOT round until you calculate the final answer
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.