Number of annuity payments

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Number of Annuity Payments

Joey realizes that he has charged too much on his credit card and has racked up $4,900 in debt. If he can pay $125 each month and the card charges 18 percent APR (compounded monthly), how long will it take him to pay off the debt? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Time to pay off the debt months

Reference no: EM132012029

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