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What does this text means EXAMPLE: Minimum Monthly Payment Trap You are buying new books for college. If you spend $500 on textbooks using ac

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EXAMPLE: Minimum Monthly Payment Trap You are buying new books for college. If you spend $500 on textbooks using ac charging 19.8 percent interest and make only the minimum payment, it will take w than 21 years to pay off the loan, adding $150 in interest charges to the cost of chase. The same purchase on a credit card charging 12 percent interest will cost only t78 extra

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