­
Money Mail Comp in The AnswerBank: Business & Finance
Donate SIGN UP
Home > Business & Finance > Money Mail Comp

Money Mail Comp

Avatar Image
soxmis_sid | 21:18 Thu 27th Dec 2012 | Business & Finance
3 Answers
If you spend £2000 this christmas on a credit card charging 17.9% interest and repaid just the minimum 3% each month, how long would it take to repay the debt?
A. 6years 7 months
B. 10 years 3 months
C. 12 years 2 months
D. 17 years 1 month
prev Help With A Company Name
  
next Form 58C
Gravatar
Rich Text Editor, the_answer

Answers

1 to 3 of 3rss feed

Best Answer

No best answer has yet been selected by soxmis_sid. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.
Avatar Image Buenchico
The answer is D.

Sourced from here:
http://www.moneysavingexpert.com/cards/minimum-repayments-credit-card#calc
21:38 Thu 27th Dec 2012
Avatar Image soxmis_sid
Question Author
Thank you. Much appreciated.
22:33 Thu 27th Dec 2012
Avatar Image boxtops
D - it's horrifying, isn't it?
22:34 Thu 27th Dec 2012

1 to 3 of 3rss feed

Do you know the answer?

Money Mail Comp

Answer Question >>
prev Help With A Company Name
  
next Form 58C
Complete your gift to make an impact