Question
Nancy recently received a credit card with a nominal interest rate of 22 percent. With the card, she purchased some new clothes for $250. The
Nancy recently received a credit card with a nominal interest rate of 22 percent. With the card, she purchased some new clothes for $250. The minimum payment on the card is only $15 per month. If Nancy makes the minimum monthly payment and makes no other charges, how long will it be before she pays off the card?
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Foundations Of Real Estate Financial Modelling
Authors: Roger Staiger
2nd Edition
1138046183, 978-1138046184
