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Sami charged $22,000 on his credit card which had interest rate of 29.99% interest. Sami's payment will pay off the card in 12 years. After
Sami charged $22,000 on his credit card which had interest rate of 29.99% interest. Sami's payment will pay off the card in 12 years. After 6 years of payments, Sami gets a raise and decides to pay off the credit card debt. a. How much is Sami's payment? b. What is Sami's payoff amount? c. What is the total amount Sami paid for his $22,000 credit card charge? d. How much interest did he pay
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Fundamentals of Corporate Finance
Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford, David A. Stangeland, Andras Marosi
1st canadian edition
978-0133400694
