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A credit card currently has an outstanding balance of $ 3 , 0 0 0 in it . The bank charges 2 % interest every
A credit card currently has an outstanding balance of $ in it The bank charges interest every month, and the cardholder pays the minimum payment of $ per month. Let yn
be the balance after n months.
a Find the difference equation and solve it
bFind the balance after years, assuming no additional purchases.
cWhen will the credit card balance be zero?
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