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Suppose that on January 1 you have a balance of 5100 on a credit card...

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Basic Math

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Suppose that on January 1 you have a balance of 5100 on a credit card whose APR is 17 which you want to pay off in 4 years Assume that you make no additional charges to the card January 1 a Calculate your monthly payments b When the card is paid off how much will you have paid since January 1 c What percentage of your total payment part b is interest a The monthly payment is Do not round until the final answer Then round to the nearest cent as needed b The total paid since January 1 is Use the answer from part a to find this answer Round to the nearest cent as needed c The percentage of the total paid that is interest is Use the answer from part b to find this answer Round to one decimal place as needed

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