Today you borrowed 3100 on your credit card to purchase, Financial Management

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Today you borrowed 3100 on your credit card to purchase

Today, you borrowed $3,100 on your credit card to purchase some furniture. The interest rate is 12 percent, compounded monthly. How long will it take you to pay off this debt assuming that you do not charge anything else and make regular monthly payments of $100?

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Financial Management: Today you borrowed 3100 on your credit card to purchase

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