You owe $10,000 to a credit card company. Your credit card debt is 127 days over

Question

You owe $10,000 to a credit card company. Your credit card debt is 127 days overdue after the grace period. The interest rate is 19%. How much do you need to pay off this debt? You owe $10,000 to a credit card company. Your credit card debt is 127 days overdue after the grace period. The interest rate is 19%. How much do you need to pay off this debt? You owe $10,000 to a credit card company. Your credit card debt is 127 days overdue after the grace period. The interest rate is 19%. How much do you need to pay off this debt?

Explanation / Answer

You owe $10,000 to a credit card company. Your credit card debt is 127 days overdue after the grace period. The interest rate is 19%. How much do you need to pay off this debt?

Amount needed to pay off this debt = 10000 + 10000*19%*127/365

Amount needed to pay off this debt = $ 10661.10

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