In general, reducing the present value (PV) of a credit card while keeping the number of periods (n) and interest rate (i) the same will _____.

For a fixed interest rate and number of payment periods, the present value is the amount being repaid through the monthly payments. If the present value decreases while the other factors stay the same, each monthly payment must also decrease. Therefore, the correct choice is “decrease the monthly payment (P).”

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