Pay for your living expenses using a credit card

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Reference no: EM131308426

You have just entered college and have decided to pay for your living expenses using a credit card that has no minimum monthly payment. You intend to charge $1000 per month on the card for the next 45 months. The card carries a monthly interest rate of 0.9 %. How much money will you owe on the card 46 months from? now, when you receive your first statement? post-graduation?

Reference no: EM131308426

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