Question
Suppose you have a credit card with a balance of $5,000 and an annual interest rate of 20%. You want to pay off the balance
Suppose you have a credit card with a balance of $5,000 and an annual interest rate of 20%. You want to pay off the balance in 2 years, making equal monthly payments. What will be your monthly payment? Show all calculations.
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Fundamentals of Corporate Finance
Authors: Berk, DeMarzo, Harford
2nd edition
132148234, 978-0132148238
