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Many consumers carry a balance each month on their credit cards and make minimal payments toward their debt. If Henry owes $3,150 on his credit
Many consumers carry a balance each month on their credit cards and make minimal payments toward their debt. If Henry owes $3,150 on his credit card and is being charged 18.75%, compounded semiannually, what are his end-of-month monthly payments? Assume the credit card company amortizes the loan over a 5 year period
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