You currently have a balance of $9,000 and you pay an interest rate of 17% per year on the card. Your minimum payment is 3% of the statement balance. If you pay the minimum balance for 10 months, what will be your new balance?
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You currently have a balance of $9,000 and you pay an interest rate of 17% per year on the card. Your minimum payment is 3% of the statement balance. If you pay the minimum balance for 10 months, what will be your new balance?
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- Assume you have a balance of $3200 on your credit card that you want to pay off. Calculate your monthly payment and total payment under the given conditions. Assume you make no additional charges to the card. The credit card APR is 18% and you want to pay off the balance in 3 years.You plan to deposit S500 in a bank account now and S400 at the end of the year. If the account earns 4% interest per year, what will the balance be in theaccount right after you make the second deposit?You plan to deposit $500 in a bank account now and $600 at the end of the year. If the account earns7% interest per year, what will be the balance in the account right after you make the second deposit?
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