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Assume that you have a balance of $ 5000 on your Discover credit card and that you make no more charges. Assume that Discover charges

Assume that you have a balance of $5000 on your Discover credit card and that you make no more charges. Assume that Discover charges 24% APRand that each month you make only the minimum payment of 2.5% of the balance.

Find a formula for the balance B after t monthly payments.

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