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Business, 27.07.2021 20:00 miyapooh3472

Assume you have three credit cards, each having a balance due of $500 for a total of $1,500. Each card has a different interest rate ranging from 12% to 20%. The minimum payment on each card is $10. If the minimum payment is not made, there is a $50 penalty. If you only have $500 to pay on your credit cards this month, the best way to minimize your interest cost is to pay an equal amount of money on each card.
True or False

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Assume you have three credit cards, each having a balance due of $500 for a total of $1,500. Each ca...

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