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You have a credit card with a balance of $14,200 and an APR of 18.2 percent...

You have a credit card with a balance of $14,200 and an APR of 18.2 percent compounded monthly. You have been making monthly payments of $270 per month, but you have received a substantial raise and will increase your monthly payments to $345 per month. How many months quicker will you be able to pay off the account?

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fic =NPER(C2,C3,-C4,C5, C6) В А 1 2 RATE(i) 3 PMT 4 PV 5 FV 6 TYPE 7 NPER 8 Nper(rate,pmt,-pv,fv, type) 0.0151670.182/12 $270

H7 F =NPER(H2,H3,-H4, H5, H6) RATE 0.015167 0.182/12 $345.00 14200 PV Rate Per Period Payment per period Present Value Future

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