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Problem:
1. How might credit card companies keep their cardholders in debt for a long time?
2. What payment do the credit card companies expect your friend to make so that he never pays down the debt?
Explain in detail.
Basic Finance, Finance
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Current Assets$1,350 Total Assets$2,500 Operating Profit$475 Debt$975 Net Income$300 Inventory$450 Cost of Goods Sold$525 Sales$1,350 Current Liabilities$800 Total Equity$1,525 Total Liabilities and owners equity$2,500 C ...
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