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Posted on Jul 19, 2024

You discover that you need a new laptop that costs $ 4 , 0 0 0 . You charge the laptop to your credit card

You discover that you need a new laptop that costs $

4, 000 .

You charge the laptop to your credit card which charges a

21 %

annual interest rate. If you make no payments on the credit card for

5

years, how much will you owe on the card? Assume annual compounding.

(

Round to nearest penny, e

.

. 1234.56)

Answer:No

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