John has budgeted to pay 50 each month on his credit card


John has budgeted to pay $50 each month on his credit card which has a $2,598 balance and has an annual finance rate of 19.9%. If John wants to pay the credit card off in 5 years, by how much would he have to increase his monthly payment?

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Financial Management: John has budgeted to pay 50 each month on his credit card
Reference No:- TGS01393218

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