Find joannas monthly credit card payment

Reference no: EM131008816

Joanna uses her credit card to finance a $800 purchase. Her card charges an annual interest rate of 20.25%, compounded monthly, and assumes a 15-yr term. Assume that Joanna makes no further purchases on her credit card.

a. Find Joanna's monthly credit card payment.

b. Assume that Joanna makes every payment for the life of the loan. Find her total payments.

c. How much interest does Joanna pay?

Reference no: EM131008816

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