Question
You have a credit card with a balance of $13,000 and an APR of 17.8 percent compounded monthly. You have been making monthly payments of
You have a credit card with a balance of $13,000 and an APR of 17.8 percent compounded monthly. You have been making monthly payments of $250 per month, but you have received a substantial raise and will increase your monthly payments to $325 per month. How many months quicker will you be able to pay off the account?
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Fundamentals of Investment Management
Authors: Geoffrey Hirt, Stanley Block
10th edition
0078034620, 978-0078034626
