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Parts A-D for the meal for his group of friends including the tip is $135.47. His credit card has an interest rate of 24.99%. If
Parts A-D
for the meal for his group of friends including the tip is $135.47. His credit card has an interest rate of 24.99%. If he makes payments of $25 per month, how long would it take him to pay for that spontaneous purchase? PV PMT FV b. How much would Jim end up spending on this purchase? How much interest did he pay? c. Now let's say Jim treats his friends a few times during the month and accumulates a debt of $746.53 on his credit card. His credit card and has an interest rate of 24.99%. If he makes payments of $25 per month PV PMT FV d. How much would Jim end up spending on this purchase? How much interest did he payStep by Step Solution
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