By making the minimum payment on a typical credit card,a borrower will have the debt paid off in about two years.

Question

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The statement is most likely false as the time it takes to pay off credit card debt depends on several factors such as the interest rate, the balance owed, and the minimum payment amount. It is unlikely that all typical credit cards would be paid off in two years with just the minimum payment.

By Making the Minimum Payment on a Typical Credit Card,a