Benedict has a credit card with an outstanding balance of $24,000 The credit card charges interest of
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Benedict has a credit card with an outstanding balance of $24,000 The credit card charges interest of 19% (compounded monthly). Benedict makes minimum payments of $400. If Benedict adds $50 per month to his current repayment of $400 for his credit card, what will his approximate interest savings be?
Related Book For
Fundamentals of Financial Management
ISBN: 978-0324664553
Concise 6th Edition
Authors: Eugene F. Brigham, Joel F. Houston
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