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Edward currently has a balance of $5800 on a credit card whose APR is 16%. He wants to pay off the balance in 3 years,

Edward currently has a balance of $5800 on a credit card whose APR is 16%. He wants to pay off the balance in 3 years, and he will make no additional charges to the card. What monthly payment does he need to make to have it paid off in 3 years?

Group of answer choices

$188.67

$203.91

$231.06

$219.72

$194.84

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