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Simon recently received a credit card with an 17% nominal interest rate. With the card, he purchased an Amazon Kindle for $340. The minimum payment

Simon recently received a credit card with an 17% nominal interest rate. With the card, he purchased an Amazon Kindle for $340. The minimum payment on the card is only $10 per month.

(a) If Simon makes the minimum monthly payment, how many months will it be before he pays off the card?

(b) If Simon makes monthly payments of $30, how many months will it be before he pays off the debt?

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