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You have credit card debt of $30,000 that has an APR (monthly compounding) of 16%. Each month you pay the minimum monthly payment. You are

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You have credit card debt of $30,000 that has an APR (monthly compounding) of 16%. Each month you pay the minimum monthly payment. You are required to pay only the outstanding interest. You have received an offer in the mal for an otherwise identical credit card with an APR of 10\%. Alter considering all your allematives, you decide to switch cards, foll over the outstanding balance on the old card into the new card, and borrow additional money as well. How much can you borrow today on the new card without changing the minimum monthly payment you will be required to pay? (Note: Be careful not to round any informediate steps loss than six docimal pioces.) You can borrow $ on the new card without changing the minimum monthly payment you will be required to pay. (Round to the nearest dollar.) You have credit card debt of $30,000 that has an APR (monthly compounding) of 16%. Each month you pay the minimum monthly payment. You are required to pay only the outstanding interest. You have received an offer in the mal for an otherwise identical credit card with an APR of 10\%. Alter considering all your allematives, you decide to switch cards, foll over the outstanding balance on the old card into the new card, and borrow additional money as well. How much can you borrow today on the new card without changing the minimum monthly payment you will be required to pay? (Note: Be careful not to round any informediate steps loss than six docimal pioces.) You can borrow $ on the new card without changing the minimum monthly payment you will be required to pay. (Round to the nearest dollar.)

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