Credit Cards Math Homework Help

150 min. 12 point font

Most credit cards require you to pay 2% of the balance; what would the minimum monthly payments of $5,220.00 be?  (no other fees applied).

2. Considering the minimum payment you just calculated determine the interest and the amount applied to reduce the principle.

3. Examine a credit card bill (or other revolving debt)) & see how long it take to pay off a debt if you only paid minimum payments. 

4. Examine a credit card bill (or other revolving debt) and see how long it would take to pay off if you paid only the minimum payments.)

5. What advice would you give a young adult planning on getting a credit card?

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