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Posted on Sep 30, 2024

Assume that you have a balance of $4000 on your Discover credit card and that you make no more charges. Assume that Discover charges 30%

Assume that you have a balance of $4000 on your Discover credit card and that you make no more charges. Assume that Discover charges 30% APR and that each month you make only the minimum payment of 2.5% of the balance.

What will the balance be after 10 years?

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