You have $15,000 in credit card debt, and your APR is 14%. How much will you need to pay each month if you want to pay off the debt in three years (rounded to the nearest dollar)?

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The correct answer is A.To calculate the monthly payment, we can use the formula:Monthly payment = (P * r) / (1 - (1 + r)^(-n))where:P is the principal (the amount of debt), r is the monthly interest rate (APR / 12), and n is the number of months.In this case, P = $15,000, r = 14% / 12 = 0.01167, and n = 3 * 12 = 36.Plugging these values into the formula, we get:Monthly payment = (15000 * 0.01167) / (1 - (1 + 0.01167)^(-36))= $512.76Rounding to the nearest dollar, the monthly payment is $513.

You Have $15,000 in Credit Card Debt, and Your APR