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A student charges $500 to a credit card. The credit card charges an APR of 21%, with interest compounded monthly. If the minimum monthly
A student charges $500 to a credit card. The credit card charges an APR of 21%, with interest compounded monthly. If the minimum monthly payment is $15, how long would it take to pay the balance if the student pays only $15 per month?
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Contemporary Business Mathematics With Canadian Applications
Authors: Ali R. Hassanlou, S. A. Hummelbrunner, Kelly Halliday
12th Edition
0135285011, 978-0135285015
