Question: You have $ 5 , 0 0 0 on a credit card that charges a 1 2 % interest rate. If you want to pay

You have $5,000 on a credit card that charges a 12% interest rate. If you want to pay off the credit card in 3 years, how much will you need to pay each month (assuming you don't charge anything new to the card)?
$
each month

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