Credit card that has no minimum monthly payment

Assignment Help Financial Management

Reference no: EM131863506

You have just entered college and have decided to pay for your living expenses using a credit card that has no minimum monthly payment. You intend to charge $ 900 per month on the card for the next 45 months. The card carries a monthly interest rate of 1 % . How much money will you owe on the card 46 months from? now, when you receive your first statement? post-graduation? After 45 months you will owe ?$ ?

Reference no: EM131863506

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