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# \$1.00Finance- Please show all work

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• Due on Jul. 06, 2012
• Asked on Jul 06, 2012 at 4:34:24PM

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Q:
Please show all work: You have a credit card with a balance of \$18,000. The annual interest rate on the card is 18% compounded monthly, and the minimum payment is \$400 per month. If you pay only the minimum payment each month and do not make any new charges on the card, how many years will it take for you to pay off the \$18,000 balance? 9) _____________

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• Posted on Jul 06, 2012 at 5:56:09PM
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A:
Preview: ...                     I/yr ...

The full tutorial is about 14 words long .

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• Posted on Jul 06, 2012 at 7:56:16PM
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