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OpenStudy (anonymous):
you just obtained a credit card. you immediately purchase a stereo system for $200. your credit limit $1000. lets assume that you make no payments and purchase nothing more and there are no others fees. the monthly interest rate is 1.42%. what is the growth rate of your credit card balance? A. 0.42 B. 0.0142 C. 14.2 D. 142
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OpenStudy (anonymous):
1.42%/100 = .0142 Answer is B
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