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Finance literacy paper

Date Posted: 12/01/2021
Category: Finance
Due Date: 18/01/2021
Instruction
Finance Literacy in Todays World (FIN205-2101A-03) Assignment Details Mark has a credit card with a $5,000 balance. His interest rate is 19%, and the credit card company requires a minimum 2% payment, this is $100 per month. This interest calculator will show how much total interest Mark will pay. https://www.consumercredit.com/debt-resources-tools/financial-calculators/credit-management/credit-card-interest-calculator/ Write a short paper (300–500 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? Please submit your assignment. Objective Identify the time value of money in making financial decisions
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