Joel is considering putting a $4800 laptop purchase on his credit card, which has an interest rate of 3.35% compounded monthly. How long will it take him to pay off the purchase if he makes monthly payments of $75? Round your answer to the nearest tenth of a year. years
Joel is considering putting a $4800 laptop purchase on his credit card, which has an interest rate of 3.35% compounded monthly. How long will it take him to pay off the purchase if he makes monthly payments of $75? Round your answer to the nearest tenth of a year. years
Chapter9: Sequences, Probability And Counting Theory
Section: Chapter Questions
Problem 29RE: Alejandro deposits $80 of his monthly earnings into an annuity that earns 6.25% annual interest,...
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Transcribed Image Text:Joel is considering putting a $4800 laptop purchase on his credit card, which has an interest rate of 3.35%
compounded monthly. How long will it take him to pay off the purchase if he makes monthly payments of $75?
Round your answer to the nearest tenth of a year.
years
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