Suppose your credit card balance is $ 16,000 . The minimum payment is $ 329 , and the annual percentage rate is 19.
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Suppose your credit card balance is

​$16,000. The minimum payment is ​$329​, and the annual percentage rate is 19.3​%.

a.  If you make a constant monthly payment of ​$329​, how long will it take you to pay off the credit card​ balance?

b.  How much interest will you pay if you elect to make the minimum​ payment?

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