Problem
Decide How Much to Pay You just received your monthly credit-card statement. The balance you owe is $228.39. You have $239.00 in your checking account and only $4.00 in your wallet. You could pay the entire amount to avoid an interest payment. That would leave you with almost no ready cash for anything else. Or, you could make the minimum payment of $18.43. Your account charges 1 percent per month on unpaid balances. How much would the interest be if you pay only the minimum (you would be charged interest on the entire balance if you don't pay it all)? Should you pay off the entire balance? Explain the benefits and costs of your choice.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.