You borrowed $3,500 on a credit card that charges an interest rate of 19 percent...

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Finance

You borrowed $3,500 on a credit card that charges an interest rate of 19 percent annual interest 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?
Multiple Choice
9.75 years
2.92 years
4.29 years
23.50 years
6.36 years

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