Question
A student charged $4,000 on her credit card to go on a trip during spring break. The credit card company charges 17% per year, compounded
A student charged $4,000 on her credit card to go on a trip during spring break. The credit card company charges 17% per year, compounded monthly, on all outstanding balances. If the student pays the minimum amount due of $100 each month, how long will it take to pay off the credit card?
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Corporate Finance Leasing
Authors: Brian Coyle
1st Edition
0852974620, 9780852974629
