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Emily has maxed out her credit card buying things for her new apartment she moved into shortly after graduation. She owes $8,000. She has vowed
Emily has maxed out her credit card buying things for her new apartment she moved into shortly after graduation. She owes $8,000. She has vowed to herself that she will pay $240 per month toward the credit card and will not use it again until it is paid off. If the card has an annual interest rate of 18%, how long will it take her to pay it off? (Assume monthly compounding.)
Please show using excel!
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