ou have a credit card balance of $2,000 and are able to make payments of $50 per month.  Assume the credit card company charges an annual interest rate of 14% (1.16667% per month).  How many months will it take to pay off the balance.  Assume no other purchases.   Just write the two digit number...no label.

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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You have a credit card balance of $2,000 and are able to make payments of $50 per month.  Assume the credit card company charges an annual interest rate of 14% (1.16667% per month).  How many months will it take to pay off the balance.  Assume no other purchases.   Just write the two digit number...no label.

 
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