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You owe $500 on a credit card that charges 1.5% interest per month, and you are paying $50 per month and not using the card.

You owe $500 on a credit card that charges 1.5% interest per month, and you are paying $50 per month and not using the card. a) Find a dynamical system describing what you owe after n months.

b) What is the equilibrium vale?

c) How many months will it take to pay off the credit card?

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