How many years will take to pay off the credit card balance

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Reference no: EM13282977

You are hired by a leading credit card company, Ford Chase Bank. One of their directos, Julie Hollas wants you to perform a small calculation for her. A customer wants to charge a Japanese robot to his credit card. The price of the robot including sales tax is $850.00. How many years will it take to pay off the credit card balance if the monthly payment is $16.70 and the annualized credit interest rate is 23%.

Reference no: EM13282977

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