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15-01-2021
Mathematics

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In order to help me move, I got a credit card with a $1,000 credit limit and spent all $1,000 the first month. The credit card charges compound interest at a rate of 15% a month, BUT, you don’t have to make any payments for one year. How much debt will I have after 1 year of having this card?

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15-01-2021

Answer

The tax/ your paying a year is 150, so you would owe 1,500 btw, answer my recent question maybe..?

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