How much faster could you pay the loan off

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Reference no: EM131956000

Question: Your Christmas ski vacation was great, but it unfortunately ran a bit over budget. All is not lost: You just received an offer in the mail to transfer your $14,000 balance from your current credit card, which charges an annual rate of 21.8 percent, to a new credit card charging a rate of 12.4 percent. How much faster could you pay the loan off by making your planned monthly payments of $325 with the new card

Reference no: EM131956000

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