Question
PLEASE ANSWER THE FOLLOWING QUESTION... You have a credit card with an APR of 24%. The card requires a minimum monthly payment of 5% of
PLEASE ANSWER THE FOLLOWING QUESTION...
You have a credit card with an APR of 24%. The card requires a minimum monthly payment of 5% of the balance. You have a balance of $7500. You stop charging and make only the minimum monthly payment. What is the balance on the card after eight years?
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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
12th Edition
978-0030243998, 30243998, 324422695, 978-0324422696
