Business, 22.02.2021 20:00 yorylee

Suppose you owe $1,100 on your credit card. The annual percentage rate (APR) is 18%, compounded monthly. The credit card company says your minimum monthly payment is $19.80. If you make only this minimum payment, how long will it take for you to repay the $1,100 balance (assuming no more charges are made)

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Suppose you owe $1,100 on your credit card. The annual percentage rate (APR) is 18%, compounded mont...