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Many consumers carry a balance each month on their credit cards and make minimal payments toward their debt. If Nancy owes $9,773 on her credit
Many consumers carry a balance each month on their credit cards and make minimal payments toward their debt. If Nancy owes $9,773 on her credit card and is being charged 22.91%, compounded semiannually, what are her end-of-month monthly payments? Assume the credit card company amortizes the loan over a 7 year period.
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