Credit Card Payment Math Problem

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Ellen has maxed out her credit card at $11,500 and vows not to make any other credit card purchases. Her credit card company charges 1.21% interest per month, and the minimum monthly payment is all interest due plus 3% of the principal balance. How much of the balance can Ellen pay down if she pays the minimum payment only for 4 months?

    • Posted: 12 days ago
    • Due: 
    • Budget: $2
    Answers 3
    • Ellen Credit Card Math Problem
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