Question
Joey realizes that he has charged too much on his credit card and has racked up $4,100 in debt. If he can pay $150 each
Joey realizes that he has charged too much on his credit card and has racked up $4,100 in debt. If he can pay $150 each month and the card charges 12 percent APR (compounded monthly), how long will it take him to pay off the debt?
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Finance For Executives Managing For Value Creation
Authors: Gabriel Hawawini, Claude Viallet
6th Edition
1473749247, 9781473749245
