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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?

Guest Mar 14, 2017
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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 !

ElectricPavlov  Mar 15, 2017

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