Question
You have a credit card with a balance of $5,000 and an annual interest rate of 18%. If you make a payment of $500 at
You have a credit card with a balance of $5,000 and an annual interest rate of 18%. If you make a payment of $500 at the end of every month, how long will it take you to pay off the credit card balance and how much interest will you pay in total?
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Principles of Finance
Authors: Scott Besley, Eugene F. Brigham
6th edition
9781305178045, 1285429648, 1305178041, 978-1285429649
