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Assume that you have a balance of $3000 on your MasterCard and that you make no more charges. Assume that MasterCard charges 13% APR and

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Assume that you have a balance of $3000 on your MasterCard and that you make no more charges. Assume that MasterCard charges 13% APR and that each month you make only the minimum payment of 5% of the balance. What will the balance be after 30 months? Enter your answer rounded to two decimal places

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