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Find the monthly interest payment in the situation described below. Assume that the monthly interest rate is 1 / 12 of the annual interest rate.

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Find the monthly interest payment in the situation described below. Assume that the monthly interest rate is 1 / 12 of the annual interest rate. V You maintain an average balance of $1200 on your credit card, which carries a 15% annual interest rate. The monthly interest payment is $ (Type an integer or a decimal.)

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