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Today, you borrowed $2,800 on your credit card to purchase some furniture. The annual interest rate (APR) is 12 percent, compounded monthly. How long will
Today, you borrowed $2,800 on your credit card to purchase some furniture. The annual interest rate (APR) is 12 percent, compounded monthly. How long will it take you to pay off this debt assuming that you do not charge anything else and make regular monthly payments of $100?
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