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22. Your current credit card balance is $62,103, the APR is 6%, with interest compounded monthly. If you leave the balance unpaid (not considering any
22. Your current credit card balance is $62,103, the APR is 6%, with interest compounded monthly. If you leave the balance unpaid (not considering any penalties), how long will it take for the balance grow to $70,000?
A) 2.05 years B) 24 years C) 12 years D) 2 years
E) 1.06 years
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