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Jim has an outstanding credit card balance of $5,000 carrying an APR finance rate of 25.0% (note interest will be compounded monthly) and requiring

Jim has an outstanding credit card balance of $5,000 carrying an APR finance rate of 25.0% (note interest will be compounded monthly) and requiring minimum monthly payments of $200 per month -If only the minimum monthly payment is made, how many months will it take to completely pay off this credit card balance (assuming no new charges)?

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