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You charged $1,750 on your credit card during your recent vacation in Myrtle Beach. Your credit card company charges you 18% annual interest, compounded monthly.
You charged $1,750 on your credit card during your recent vacation in Myrtle Beach. Your credit card company charges you 18% annual interest, compounded monthly. If you make the minimum payments of $75 per month, how long will it take (to the nearest month) to pay off your balance?
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