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If you pay the credit card company 292.68 each month in order to pay off your credit card, and it takes you 51 months to pay it off, what is the total cost of the credit card loan?​

User NathanBrakk
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1 Answer

20 votes
20 votes

Answer:

To find the total cost of the credit card loan, you need to multiply the monthly payment by the number of months it takes to pay off the loan. In this case, the total cost of the credit card loan is 292.68 * 51 = $14,958.68.

This is the total amount of money you will have paid to the credit card company in order to pay off the loan, including any interest charges that may have been applied to the balance. It is important to make your monthly payments on time and to pay as much as you can each month in order to minimize the amount of interest you pay and to pay off the loan as quickly as possible.

User Patrick Lee
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