How long can the student pay off the debt
Suppose a student has a $20,000 credit card debt on January 1. The company charge 12% annual interest rate and it is compounded continuously. The student makes $200 payment at the end of every month. How long can the student pay off the debt?
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The company charge 12% annual interest rate and it is compounded continuously. The student makes $200 payment at the end of every month. How long can the student pay off the debt?
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