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Suppose you put $500 on a credit card and then $60 each month after that. The card has a 12% APR and minimum payment of

Suppose you put $500 on a credit card and then $60 each month after that. The card has a 12% APR and minimum payment of 4%. If you pay $80 per month, what is the balance after 36 months? If you only pay $65 per month, is the balance increasing or decreasing? Why?

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