Chanel has a credit card with a $6,000 limit she charges $750 every month for clothes but she can only pay back $300 a month how many months until her card reaches or exceeds its limit
To find out how many months until the card reaches or exceeds its limit, we need to calculate how long it will take for the charges to accumulate to $6000.
Chanel charges $750 every month, and she can pay back $300 every month. So, the charges accumulate by $750 - $300 = $<<750-300=450>>450 every month.
To find out how many months until the charges reach $6000, we divide $6000 by $450:
$6000 / $450 = 13.33...
Therefore, it will take approximately 14 months for Chanel's credit card to reach or exceed its limit.