You spend $500 on your credit card. You realize you don't have enough money to pay have to pay the interest on this loan. The credit card company charges 20% per annum compounded daily. You won't be able to pay back until you get your birthday money in 7 months (210 days). How much will you pay at the end of 7 months? How much interest are you! paying? back the $500 You will

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