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In general, reducing the interest rate (i) of a credit card but keeping the present value (PV) and number of periods (n) the same will_______. a.) decrease the monthly payment (P) needed to pay off the
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In general, reducing the interest rate (i) of a credit card but keeping the present value (PV) and number of periods (n) the same will_______.

a.) decrease the monthly payment (P) needed to pay off the debt.
b.) increase the monthly payment (P) needed to pay off the debt.
c.) eliminate the monthly payment (P) needed to pay off the debt.
d.) have no effect on the monthly payment (P) needed to pay off the debt.

User Yuhi
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8 votes
8 votes

Answer:

a

Step-by-step explanation:

User Davbryn
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22 votes
22 votes

Answer:

A. decrease the monthly payment (P) needed to pay off the debt.

i took the test⬇️

In general, reducing the interest rate (i) of a credit card but keeping the present-example-1
User Odm
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