Question

You have $2,000 on a credit card that charges a 13% interest rate. If you want to pay off the credit card in 3 years, how much will you need to pay each month (assuming you don't charge anything new to the card)?

Answer 1

Answer: $67.04 each month

Explanation:

you would need to pay approximately $67.04 each month to pay off the $2,000 credit card balance with a 13% interest rate in 3 years, assuming you don't charge anything new to the card.