Financial Literacy

  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 (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