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HELP PLEASE!!!!


In general, reducing the monthly payment (P) of a credit card but keeping the interest rate (i) and present value (PV) the same will __________.


a. decrease the number of periods (n) needed to pay off the debt

b. increase the number of periods (n) needed to pay off the debt

c. eliminate the number of periods (n) needed to pay off the debt

d. have no effect on the number of periods (n) needed to pay off the debt


The answer is B. Just took the test

HELP PLEASE In general reducing the monthly payment P of a credit card but keeping the interest rate i and present value PV the same will a decrease the number class=

Respuesta :

blessytimagos

Answer:

B. ¯\_(ツ)_/¯ᵐᵃʸᵇᵉ cause yeah

Reducing the monthly payment (P) of a credit card but keeping the interest rate (i) and present value (PV) the same will increase the number of periods (n) needed to pay off the debt.

What is an Interest rate?

Interest is paid by a borrower and this is the amount of money that is added to the money borrowed.

Interest is usually recovered with the money borrowed in bits and the rate or amount is determined by the lender.

There is a given period to pay a loan depending on the amount borrowed the more you pay the lesser the time of repayment.

Therefore, reducing the monthly payment (P) of a credit card but keeping the interest rate (i) and present value (PV) the same will increase the number of periods (n) needed to pay off the debt.

Learn more on interest rate here,

https://brainly.com/question/25793394

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