5.2 Loan Payments Finding the time necessary until you pay off a loan is simple if you make equal payments each month. H

[answerhappygod]

5.2 Loan Payments Finding the time necessary until
you pay off a loan is simple if you make equal payments each month.
However, when paying off credit cards, many individuals only make
the minimum monthly payment, which is generally $10 or 2 percent to
3 percent of the balance, whichever is greater. You can find a
credit card calculator at www.financialcalculators.com. You
currently owe $10,000 on a credit card with a 17 percent interest
rate and a minimum payment of $10 or 2 percent of your balance,
whichever is greater. How soon will you pay off this debt if you
make the minimum payment each month? How much total interest will
you pay?