Jayla has an outstanding credit card balance of $12000 on her Visa. The APR on her credit card is 18%. She decides to make no more additional purchases and pay off this card. What's the most amount of money that Jayla could pay back each month and still NOT pay down her balance?
+37146 Each month she will be charged interest...if she does not pay more than this interest her balance will not decrease.
Monthly interest amount
12000*.18/12 = 180 If she pays up to and including this amount her balance will never go down !
