Business, 21.12.2020 18:00 mikey8510

Suppose that Kathy uses her credit card to cover her expenses and pay her bills. She accumulates a balance of $12,500 at an annual interest rate of 21%. Determine the future value of the total amount she will have to repay, if she takes 6 years to pay it off. Briefly, explain how excessive credit usage canâ€™t lead into financial burden or default on your loans. (Show your work)

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