Your round-the-world vacation ran over budget how much, Financial Management

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Your round-the-world vacation ran over budget how much

Your round-the-world vacation ran over budget. But you’re in luck. You just received an offer to transfer your $20,000 balance from your current credit card, which charges an annual rate of 12 percent, to a new credit card charging 6 percent. How much faster could you pay off the loan by making your planned monthly payments of $400 with the new card?

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