American Public University System Interest Rate Accounting Worksheet
Description
Mark has a credit card with a $5,000 balance. His interest rate is 19%, and the credit card company requires a minimum monthly payment of $100 per month.
This interest calculator will show how much total interest Mark will pay.
Write a short paper (500 words) that answers the following questions:
- How long will it take for Mark get his balance to $0? (Use the interest calculator linked above.)
- What strategies should Mark use to pay off the card sooner?
Individual Project Rubric
The Individual Project (IP) Grading Rubric is a scoring tool that represents the performance expectations for the IP. This Individual Project Grading Rubric is divided into components that provide a clear description of what should be included within each component of the IP. It’s the roadmap that can help you in the development of your IP.
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