Question
You have a balance of $8,000 on a credit card. The issuer charges a 21% nominal annual interest rate monthly. without using the card again,
You have a balance of $8,000 on a credit card. The issuer charges a 21% nominal annual interest rate monthly. without using the card again, you are determined to pay off the credit card over the next 4 years. What is the minimum monthly payment?
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Project Financing Asset-Based Financial Engineering
Authors: John D Finnerty
3rd Edition
1118421841, 9781118421840
