AGummiBear55

Please Please PLEASE help? Jesse owes $8,473 on a credit card with a 21.5% interest rate. What is the monthly payment he should make to pay off this debt in 12 months, assuming he does not charge any more purchases with the card?
$790.99
$706.08
$164.57
$2,016.54

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Heni

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I think £857.89 a month

Heni

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the 21.5 interest is 1,821.695
then I add it to the original amount ( 8473+1,821.695=10294.695)
then i divide 10294.695 by 12 which is 857.89125

AGummiBear55

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It can't be because my only choices are $790.99
$706.08
$164.57
$2,016.54

AGummiBear55

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I'm so confused.

Heni

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i'm confused too now :D

AGummiBear55

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Great! Well at least were confused together. (:

Heni

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:D then maybe it's 790.99

Heni

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but i'm still not sure :D

AGummiBear55

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How so?

Heni

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i was thinking what if that 21.5% not included in the 12 months payment?

Heni

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i'm just guessing :D

AGummiBear55

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Yeah... I think that's it!!! :D Thanks!!

Heni

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no prob :)