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Find how many months will take to bring remaining balance

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Reference no: EM132902861

Assume that you have a balance of $5400 on your Discover credit card and that you make no more charges. Assume that Discover charges 21% APR and that each month you make only the minimum payment of 2% of the balance.

Problem 1: Find how many months it will take to bring the remaining balance down to $2500. (Round your answer to the nearest whole number.)

Reference no: EM132902861

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