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Concept explainers
In Exercises 5-10, use
to determine the regular payment amount, rounded to the nearest dollar.
To pay off the $4200 credit card balance in Exercise 5, suppose that you can get a bank loan at 10.5% with a term of three years.
a. How much will you pay each month? How does this compare with your credit card payment in Exercise 5?
b. How much total interest will you pay? How does this compare with your total credit card interest in Exercise 5?
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Chapter 8 Solutions
Thinking Mathematically plus NEW MyLab Math with Pearson eText -- Access Card Package (6th Edition)
- Algebra & Trigonometry with Analytic GeometryAlgebraISBN:9781133382119Author:SwokowskiPublisher:Cengage
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