If you only make your credit card's minimum payment, then your balance will decrease very slowly and will follow an exponential pattern.

Question

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When you make only the minimum payment on your credit card, the majority of your payment goes towards the interest rather than the principal balance. This leads to a slower decrease in the overall balance, which follows an exponential pattern as the interest continues to accrue on the remaining balance.

If You Only Make Your Credit Card's Minimum Payment, Then