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charged $1,000 on your credit card for Christmas presents. Your credit card company charges you 16% annual interest, compounded monthly. If you make the minimum

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charged $1,000 on your credit card for Christmas presents. Your credit card company charges you 16% annual interest, compounded monthly. If you make the minimum payments of $25 per month, how 3 will it take to the nearest month) to pay off your balance? 111 months 58 months 46 months 40 months 36 months

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