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Posted on Oct 19, 2024

You decide to quit using your credit card and want to pay off the balance of $ 7 , 6 0 0 in 5 years.

You decide to quit using your credit card and want to pay off the balance of $

7, 600

5

years. Your interest rate is

18.8 %

compounded monthly.

What will your monthly payments twe?

How much interest do you pay?

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