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You have a credit card with a balance of $11,200 and an APR of 17.2% compounded monthly. You have been making monthly payments of 220
You have a credit card with a balance of $11,200 and an APR of 17.2% compounded monthly. You have been making monthly payments of 220 per month, but you got a raise and will increase your monthly payments to 270 per month. How many months more quickly will you be able to pay off the account? Please answer in excel by hardcoding numbers and formulas.
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