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How many months will it take before he pays off the card

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Question - Bucky Bavasi just bought a new TV that cost $1,200.  He plans to finance the purchase with his new credit card which has a 21% nominal interest rate.  The minimum payment on the card is $25 per month. If he makes the minimum payment and makes no other charges, how many months will it take before he pays off the card?

Reference no: EM133055916

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