Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Transcribed Image Text:Question 8
You have $4,500 on a credit card that charges a 14% interest rate. If you want to pay off the credit
card in 3 years, how much will you need to pay each month (assuming you don't charge anything
new to the card)?
each month
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