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This morning, you purchased some stereo equipment costing $2,659. You charged this purchase on your credit card. This card charges 16.9 percent interest, compounded monthly. How long will it take you to pay off this purchase if this is the only charge on your credit card and you make monthly payments of $40?This morning, you purchased some stereo equipment costing $2,659. You charged this purchase on your credit card. This card charges 16.9 percent interest, compounded monthly. How long will it take you to pay off this purchase if this is the only charge on your credit card and you make monthly payments of $40?

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