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Engineering Economics Today the average undergraduate student is responsible for paying off a $3250 balance on his/her credit card Suppose the monthly interest rate is

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Today the average undergraduate student is responsible for paying off a $3250 balance on his/her credit card Suppose the monthly interest rate is 1.75% (21% APR) How many months will it take to repay the $3,250 balance, assuming monthly payments of $150 are made and no additional expenses are charged to the credit card

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