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  3. you have credit card debt of $37,500 that has an a

You have credit card debt of $37,500 that has an APR (monthly compounding) of 16X....

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Accounting

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You have credit card debt of $37,500 that has an APR (monthly compounding) of 16X. Each month you pay the minimum monthly payment. You are required to pay only the outstanding interest You oid card into the new card, and borrow additional money as well. How much can you bomow todiay on the new card without changing the minimum montly poyment you will be required to pay? (Noto: Be careful not to round any intermediste staps ioss than six docinul places) You can borrow $ en the new cand wethout changing the minimum monthly payment you wal be required to pary (Round to the nearest dollar.)

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