If he does not charge anything else and sends the credit


Fred owes $12,000 on his credit card, which carries an annual interest rate of 10.2 percent. If he does not charge anything else and sends the credit card company $585 every month, how many months will it take to pay off the card? (Show your answer to two decimal places, e.g., 12.34)

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Financial Management: If he does not charge anything else and sends the credit
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