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Question 9 (5 points) Assume a credit card balance of $22,000 that carries a 17% annual interest rate. The minimum required monthly payment is 3%

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Question 9 (5 points) Assume a credit card balance of $22,000 that carries a 17% annual interest rate. The minimum required monthly payment is 3% of the outstanding balance or $40, whichever is greatest. Calculate the balance after the first payment. Your

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