Fitzgerald Wagner
07/22/2023 · Primary School

You have \( \$ 2,500 \) on a credit card that charges a \( 19 \% \) interest rate. If you want to pay off the credit card in 5 years, how much will you need to pay each month (assuming you don't charge anything new to the card)?

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The monthly payment to pay off the credit card in 5 years is about \( \$63.00 \).

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