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You went shopping today for new furniture you purchased

You went shopping today for new furniture. You purchased some new furniture for $6,200 and paid for with your credit card. The interest rate is 14.9 percent, compounded monthly. How long will it take you to pay off this debt assuming that you do not charge anything else and make regular monthly payments of $120?

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Finance Basics: You went shopping today for new furniture you purchased

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Finance Basics: You went shopping today for new furniture you purchased

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