Question
Rebecca has recently begun keeping her spending under control, but she still cannot fully pay off her credit card. She maintains an average monthly balance
Rebecca has recently begun keeping her spending under control, but she still cannot fully pay off her credit card. She maintains an average monthly balance of about $1100, and her card charges a 25.2% annual interest rate, which it bills at a rate of 2.1% per month. How much is she spending on credit card interest per year? Round your answer to two decimal places.
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Personal Finance
Authors: Jeff Madura, Hardeep Singh Gill
4th Canadian edition
134724712, 134724713, 9780134779782 , 978-0134724713
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