Answered

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5. Stacey has a $8,000 balance on her credit card that has an interest rate of 21%, compounded monthly over 5 years.


(c) If instead she wants to completely pay off her debt after 3 years (i.e. 2 years early),
what lump sum payment must she make?

the answer is $4211.88 but how do you get that answer??

Sagot :

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