math

how long it would take to pay off a credit card balance of $1000 if you pay the minimum of $35 a month at a flat yearly interest rate of 18%.

Is interest charged monthly? Compounded? Under monthly compounding, the answer is three years and two months.

http://calculators.interest.com/content/calculators/new/howmuch.asp

You can find your answer in this site.

http://www.fincalc.com/det_01_o.asp

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asked by kim

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