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Homework answers / question archive / You receive your monthly invoice from your bank for your credit card account
You receive your monthly invoice from your bank for your credit card account. Your balance is $809.05 and your bank offers you the option of paying it at the rate of $27 per month at an annual interest rate of 14.74%. How many months will you need to pay off your balance assuming that you make no more purchases with this card until then?
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