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OpenStudy (regan):
Your credit card overdraft is $1500. The bank charges interest at a rate of 19% (continuous). If you do not spend on your credit card: (a) how much would the overdraft be after 3 years (if you did not pay off any of the debt)? (b) Suppose you did pay off the debt - how much would you have to pay off each year (continuously) to clear the debt in 3 years?
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OpenStudy (regan):
a) $2652.4
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