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QUESTION
A credit card offers you a rate of 18.5% compounded monthly. If you owe $1,500 today and do not make any payments for an entire year, how much do you...
A credit card offers you a rate of 18.5% compounded monthly. If you owe $1,500 today and do not make any payments for an entire year, how much do you owe at the end of the year? (Assuming no late fees, financing charges, etc
