A recently married couple ran up a $6,594 credit card balance for wedding expenses. Their credit card charges interest with a 13.99% annual percentage rate. What monthly payment is required if the couple wants to pay off this debt with 9 monthly payments over the next 9 months?

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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A recently married couple ran up a $6,594 credit card balance for wedding expenses. Their credit card charges interest with a 13.99% annual percentage rate. What monthly payment is required if the couple wants to pay off this debt with 9 monthly payments over the next 9 months?
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