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30 October, 18:25

Susan has a credit card balance of $3000. Her annual interest rate is 20%. If she pays $277.90 a month she will pay the balance off in 1 year. If she pays $152.69 a month she will pay the balance off in 2 years. What is the overall financial benefit of Susan paying the credit card balance off in 1 year instead of 2?

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  1. 30 October, 18:46
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    She will save $329.76!
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