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You currently have a balance of $6,000 and you pay an interest rate of 15% per year on the card. Your minimum payment is
You currently have a balance of $6,000 and you pay an interest rate of 15% per year on the card. Your minimum payment is 3% of the statement balance. If you pay the minimum balance for 18 months, what will be your new balance?
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Managerial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
13th edition
978-1285868806, 1285868803, 978-1305691254, 978-1305465640, 1305465644, 978-1285866307
