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1.You have an outstanding credit card balance of $2,000. You decide to stop making new charges and pay $400 each month until the balance is

1.You have an outstanding credit card balance of $2,000. You decide to stop making new charges and pay $400 each month until the balance is paid. If your annual interest rate is 18%, how many months will it take you to pay off your balance?

2.What is the monthly payment for a $141000 thirty-year mortgage at 6% APR?

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