Final answer:
If an edge customer does not pay off their credit card debt early, they will need to make monthly payments until the debt is fully paid. The number of payments required depends on the interest rate, minimum payment amount, and total debt. Making only minimum payments can lead to paying significantly more in interest.
Step-by-step explanation:
If an edge customer is not paying off their credit card debt early, they will need to make monthly payments until the debt is fully paid. The number of payments required will depend on factors such as the interest rate, minimum payment amount, and the total debt. For example, if a credit card company charges a minimum payment of $60 a month and the debt is $2,000, it would take approximately 15 years to pay off the debt by only making the minimum payments. During this time, the customer would also pay more than twice the original debt amount in interest.