Question: Dennis Rodman has a 5 000 debt balance on his
Dennis Rodman has a $ 5,000 debt balance on his Visa card that charges 12.9 percent compounded monthly. Dennis’s current minimum monthly payment is 3 percent of his debt balance, which is $ 150. How many months (round up) will it take Dennis to pay off his credit card if he pays the current minimum payment of $ 150 at the end of each month?
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