Jake owes $3,990 on a credit card with an APR of 13.9 percent.How much more will it cost him to pay off this balance if he makes monthly payments of $50 rather than $60? Assume he does not charge any further purchases.
A) $2,409
B) $2,811
C) $1,648
D) $1,018
E) $3,545
Correct Answer:
Verified
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