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You have a credit card with a balance of $17,200 and an APR of 19.2 percent...

You have a credit card with a balance of $17,200 and an APR of 19.2 percent compounded monthly. You have been making monthly payments of $320 per month, but you have received a substantial raise and will increase your monthly payments to $395 per month. How many months quicker will you be able to pay off the account?

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Answer #1

Hence, Loan will paid early by 49 months (124-75)

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