Julius currently pays the minimum monthly payment of $34.15 on his credit card, which has a balance of $1,289. his credit card has an apr of 20%. if julius wants to pay off the balance in 12 months, determine the monthly payments he needs to make. choose the following modification with the least cuts to his current expenses that will allow julius to pay off his credit card balance in 12 months. income wages $2,456.00 expenses rent $900.00 utilities $186.35 food/clothes $298.00 entertainment $330.00 car $385.00 credit card $34.15 cell phone $89.49 net income $233.01 a. julius can eliminate $31 from entertainment and $55 from food/clothes. b. julius can eliminate $80 from entertainment and $60 from food/clothes. c. julius can eliminate $18 from entertainment and $32 from food/clothes. d. the minimum payment is enough to pay off the balance within 12 months.

APR on a credit card is the way of saying that the interest you are charged over a year is equal to roughly of your balance.

Julius currently pays the minimum monthly payment of $34.15 on his credit card, which has a balance of $1,289.

His credit card has an APR of 20%.

If Julius wants to pay off the balance in 12 months, determine the monthly payments he needs to make.

Choose the following modification with the least cuts to his current expenses that will allow Julius to pay off his credit card balance in 12 months.

Income wages $2,456.00

Expenses rent $900.00

Utilities $186.35

Food/clothes $298.00

Entertainment $330.00

Car $385.00

Credit card $34.15

Cell phone $89.49

net income $233.01

The net amount will be over 12 months is 1432.92.

Monthly payback will be

[tex]\rm Monthly\ pay = \dfrac{1432.92}{12}\\\\Monthly\ pay = 119.41[/tex]

She was paying 105.68 dollars per month. Then the amount will be

Amount = 119.41 – 34.15 = 85.26

Julius can eliminate $31 from entertainment and $55 from food/clothes. Then the correct option is A.

More about the APR link is given below.

https://brainly.com/question/8846837