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Assume that you have a balance of $5500 on your Discover credit card and that you make no more charges. Assume that Discover charges 24%

Assume that you have a balance of $5500 on your Discover credit card and that you make no more charges. Assume that Discover charges 24% APR and that each month you make only the minimum payment of 2.5% of the balance. What will the balance be after 6 years?

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