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Suppose your credit card balance is $5,227.54. The minimum payment amount is $75, and the annual percentage rate is 12%. (10 pts) If you make

Suppose your credit card balance is $5,227.54. The minimum payment amount is $75,

and the annual percentage rate is 12%. (10 pts) If you make a constant monthly payment

of $75, beginning today, how long will it take you to payoff the credit balance? (5 pts)

What is the payoff amount in 3 years?

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