Reese Fitzpatrick

Mathematics

22 June, 06:18

ellen has maxed out her credit card at $12,500 and vows not to make any other credit card purchases. Her credit card company charges 1.23% interest permonth, and the minimum monthly payment is all interest due plus 2% of the principal balance. How much of the balance can Ellen pay down if she pays theminimum payment only for 4 months?

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