History, 12.05.2020 09:57 mgaud2786

Paying Off Debt
You have a $3,000 balance on a credit card with an 18% APR, now you suddenly
come into a $3,000 windfall. Should you payoff your debt or invest in the
booming stock market? Examine the following chart, then answer the
questions that follow.
Stocks at 12% per year
$3,000
S3.360
At Launch
Year 1
Year 5
Year 10
Credit card at 18% per year
$3,000
S3,540
$6,863
$15.701
17. At year 10, how much greater would that original S3,000 debt be?

Answers: 1

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Paying Off Debt
You have a $3,000 balance on a credit card with an 18% APR, now you suddenly