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Business, 31.03.2021 20:50 Esmer1030

Jacki Marshall owes a balance of $5,000 on one credit card that charges 19 percent interest. She can pay off the balance in two years with monthly payments of $252.04. She has another credit card with a balance of $7,500 that charges 20 percent interest. She can pay off the balance in two years with monthly payments of $381.72. Jacki owns a home valued at $150,000. She can get a home equity loan for $12,500 at 8 percent interest. Jacki can repay the loan in two years with monthly payments of $565.34. How much money will Jacki save if she takes out a home equity loan to pay off the credit card balances? (Per month and for the full 24 months)

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Jacki Marshall owes a balance of $5,000 on one credit card that charges 19 percent interest. She can...

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