Claire has a $5,100 balance on her credit card and has decided to stop making any new
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Question:
Claire has a $5,100 balance on her credit card and has decided to stop making any new purchases. The card has an APR of 15.75%. If Claire makes monthly payments of $75, approximately how many months will it take her to pay off her credit card debt?
Hello,
I have been having trouble understanding how to calculate payment periods, and I would like some help to better understand. Here is a practice problem below from my course text.
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