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Annual interest rate on a credit card

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The annual interest rate on a credit card is 16%. If a payment of 1100 TL is made each month, how many months will it take to pay off an unpaid balance of 11,650 TL? Assume that no new purchases are made with the credit card. (Do not round until the final answer. Then round up to the nearest integer as needed)

Reference no: EM132607417

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