Question
Cai wants to pay off her debt of $759.21 by only making the minimum monthly payments, which is 4.5% of the balance or $20, whichever
Cai wants to pay off her debt of $759.21 by only making the minimum monthly payments, which is 4.5% of the balance or $20, whichever is greater. The interest rate on the debt is 21.1% compounded monthly. How many payments will it take Cai to pay off the debt?
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Financial Shenanigans How To Detect Accounting Gimmicks And Fraud In Financial Reports
Authors: Howard M. Schilit, Jeremy Perler, Yoni Engelhart
4th Edition
126011726X, 9781260117264
