(Solved): James owes $8,000 on his credit card. The credit card carries an APR of 18.8 percent compounded mont ...

James owes

on his credit card. The credit card carries an APR of 18.8 percent compounded monthly. If James makes monthly payments of

per month, how long will it take for him to pay off the credit card assuming that he makes no additional charges? Multiple Choice 11.41 months 43.02 months 49.64 months 32.65 months 46.09 months