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Courtney has a debt of $852.31 and she is being charged an interest rate of 5.3%, compounded monthly. Courtney wants to pay off this debt
Courtney has a debt of $852.31 and she is being charged an interest rate of 5.3%, compounded monthly. Courtney wants to pay off this debt by making only the minimum monthly payments which are $10 or 4% of the balance, whichever is greater. How long will it take Courtney to pay off her debt?
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