Question
Fred owes $1,500 on his credit card! When his monthly bill arrives, Fred is relieved to see that the minimum payment is only $30. If
Fred owes $1,500 on his credit card! When his monthly bill arrives, Fred is relieved to see that the minimum payment is only $30. If the advertised rate is 20% APR (assume monthly compounding), how many months will it take Fred to pay off his debt if he pays $35 each month?
(Round up to the nearest full month)
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The Company Valuation Playbook Invest With Confidence
Authors: Charles Sunnucks
1st Edition
1838470816, 978-1838470814
