Loan off by making your planned monthly payments

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Reference no: EM13890140

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 $13,000 balance from your current credit card, which charges an annual rate of 20.8 percent, to a new credit card charging a rate of 11.4 percent.

How much faster could you pay the loan off by making your planned monthly payments of $275 with the new card?

Reference no: EM13890140

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