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You owe $12,000 on a credit that charges 24% APR. If you make monthly payments of $300, how long will it take you to bring
You owe $12,000 on a credit that charges 24% APR. If you make monthly payments of $300, how long will it take you to bring your balance down to zero? For simplicity, assume both monthly payments and monthly compounding. Express your answer in months. Round to the nearest month.
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