Thinking about delaying the wedding

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Upon hearing that you were thinking about delaying the wedding a year, your future spouse goes bonkers. You decide to offer an alternative, to get married as soon as the $25,000 wedding costs are saved and borrow to pay for the honeymoon ($10,000) with a credit card charging 18% compounded monthly. If you make make minimum payment ($200), how much will have paid in principal and interest for your honeymoon?

Reference no: EM131021592

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