Question
A primary credit card holder's card has an APR of 11.99%. The current monthly balance, before interest, is $6,299.59. The cardholder makes a payment of
A primary credit card holder's card has an APR of 11.99%. The current monthly balance, before interest, is $6,299.59. The cardholder makes a payment of $350 the first 11 months and then pays off the balance at the end of the 12th month. How much interest did the credit card holder pay?
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Financial Algebra advanced algebra with financial applications
Authors: Robert K. Gerver
1st edition
978-1285444857, 128544485X, 978-0357229101, 035722910X, 978-0538449670
