Isaac realizes that he charged too much on his credit card and has racked up $5,000 in debt. If he can pay $225 each month and the card charges 17.55% APR (compounded monthly), how long will it take him to pay off the credit card?
A) 19.14 months
B) 21.77 months
C) 22.62 months
D) 27.07 months

Question

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The Answer of Isaac realizes that he charged too much on his credit card and has racked up $5,000 in debt. If he can pay $225 each month and the card charges 17.55% APR (compounded monthly), how long will it take him to pay off the credit card?
A) 19.14 months
B) 21.77 months
C) 22.62 months
D) 27.07 months

Isaac Realizes That He Charged Too Much on His Credit