Jessica has a balance of $2,200 on her credit card with an 18% interest rate. Her credit card company doesn't require a minimum payment on the balance (unheard of) and does not assess any late charges (also unheard of). If Jessica chooses not to make any payments on her outstanding balance, how long will it take for her balance to double?

Question

Computers and Technology

Amara Valenzuela

3 February, 20:11

Jessica has a balance of $2,200 on her credit card with an 18% interest rate. Her credit card company doesn't require a minimum payment on the balance (unheard of) and does not assess any late charges (also unheard of). If Jessica chooses not to make any payments on her outstanding balance, how long will it take for her balance to double?

+2

Answers (1)

Know the Answer?

Clare Good · Answer 1

By doing 2200/18 you get 122 which is how many times you can have 18 go into 2200 and its also how long it will take in days to get her balance doubled.