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Arianne has an unpaid credit card balance of $500. The card charges interest at a rate of 1.5% per month. She has $500 in a

Arianne has an unpaid credit card balance of $500. The card charges interest at a rate of 1.5% per month. She has $500 in a banking account earning an effective interest rate of 2% per annum.

What would be the total cost to Arianne of not paying off the credit card balance for a year?

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