Question
Henry realizes that he charged too much on his credit card and has racked up $5,000 in debt. If he can pay $200 each month
Henry realizes that he charged too much on his credit card and has racked up $5,000 in debt. If he can pay $200 each month and the card has an APR of 18% compounded monthly, how long will it take him to pay off the debt?
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Financial Markets and Institutions
Authors: Anthony Saunders, Marcia Cornett
6th edition
9780077641849, 77861663, 77641841, 978-0077861667
