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You Have an $8000 Balance on Your Credit Card,which Charges

Question 2

Multiple Choice

You have an $8000 balance on your credit card,which charges 12% interest annually (1% per month) .If you can afford to pay $100 per month,how many months will it take to pay the credit card in full?


A) 170 months
B) 14 months
C) 162 months
D) You will never get the card paid off at that rate.

Correct Answer:

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