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The annual interest rate on credit card is 24.99%. How long will it take to pay off an unpaid balance of RM1485.77 if no new purchases are made and a RM50.00 payments is made each month?

The annual interest rate on credit card is 24.99%. How long will it take to pay off an unpaid balance of RM1485.77 if no new purchases are made and a RM50.00 payments is made each month?

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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|(c) The annual interest rate on credit card is 24.99%. How long will it take to pay off an unpaid balance of RM1485.77 if no new purchases are made and a RM50.00 payments is made each month? |(d) A family has a RM120000, 20-year mortgage at 6.75% compounded monthly. Find the monthly payment. Also find the unpaid balance after 10 years.
Transcribed Image Text:|(c) The annual interest rate on credit card is 24.99%. How long will it take to pay off an unpaid balance of RM1485.77 if no new purchases are made and a RM50.00 payments is made each month? |(d) A family has a RM120000, 20-year mortgage at 6.75% compounded monthly. Find the monthly payment. Also find the unpaid balance after 10 years.
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