Question: you have just entered an MBA program and have decided to pay for your living expenses using a credit card that has no minimum monthly

you have just entered an MBA program and have decided to pay for your living expenses using a credit card that has no minimum monthly payment. you intend to charge $1000 per month on thw card for the next 21 months. the card carries a monthly rate of 1.06%. how much money will you owe on the card 22 months from now, when you recieve your first statement post- graduation?

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