## If you have a balance of $1,000 on your credit card, and the interest rate is 17¾% a year, in order to pay off the $1,000 in 5 years, you wi

Question

If you have a balance of $1,000 on your credit card, and the interest rate is 17¾% a year, in order to pay off the $1,000 in 5 years, you will have to make minimum payments of $25.26 a month. How much will the $1,000 loan cost you in interest?

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2021-09-22T01:43:54+00:00
2021-09-22T01:43:54+00:00 2 Answers
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## Answers ( )

Answer:$540.54

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