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Today, you borrowed $ 5 , 4 0 0 on a credit card that charges an interest rate of 1 3 . 2 percent, compounded

Today, you borrowed $

5, 400

on a credit card that charges an interest rate of

13.2

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 $

110 ?

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