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Mary ' s credit card situation is out of control because she cannot afford to make her monthly payments. She has three credit cards with
Marys credit card situation is out of control because she cannot afford to make her monthly payments. She has three credit cards with the following loan balances and APRs: Card$ comma ; Card$ comma ; and Card$ comma Interest compounds monthly on all loan balances. A credit card loan consolidation company has captured Mary's attention by stating they can save Mary per month on her credit card payments. This company charges APR. Is the company's claim correct? Assume a year repayment period.
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