What is the most likely outcome of making only on-time minimum payments to a credit card with a balance for an entire year?

If you pay the minimum toward your balance each month, here’s what you can expect to happen:

Paying down your debt will take much longer.You’ll rack up bigger interest charges.Your credit score could take a hit. 

Credit card issuers tend to set minimum payment requirements at rock-bottom levels. You’ll generally owe either a fixed amount — often $25 — or a percentage of the balance, whichever’s greater. Some cards require you to pay only 1% or 2% of the balance each month, plus any fees and accrued interest. Making these small payments on time will let you avoid late fees, but you won’t make any real progress on paying down your balance.

Answerdatabase;

You need to figure out at which x-value does the graph has a tangent line slope of -1.remember, the derivative is the slope of the tangent line. so find the derivative function and set it to equal -1 to find the x-value that will have a tangent line slope of 0.differentiate with the chain rule.    set the derivative to equal -1 and solve for x.      take log base 10 of both sides. also recall that  .    so the x-coord of the point of tangency is .the y-coordinate of this point of tangency can be calculated using the original function:     using point-slope form, the equation of the tangent line is      the x-intercept of this tangent line is when the graph is at y=0.    this rounds off to  .choice c.