on the hottest day ofthe year, marta's air conditioner broke. marta decided it was anemergency, so she went to the store to buy a newair conditioner. marta didn't have enough cash,so she used her credit card.
Best Buy Credit Card Login, the air conditioner cost $300. that evening, her familywas cool and happy. the next month, marta got hercredit card bill for the $300 air conditioner.
marta had it in her budget topay $15 each month until she finished paying for theair conditioner. $15 was her minimum payment. then, every month, marta sentthe minimum payment. but marta's balance didn'tgo down $15 each month. the credit card companyadded interest to her balance every month. the annual interest rate onmarta's credit card was 23%, so the credit card companyadded interest to marta's
it took marta more than twoyears to pay for the air conditioner, because she paidonly the minimum payment. at the end of two years,marta had paid $382-- $300 for the air conditionerand $82 in interest.
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