Answer Happy

Part III Using the formula for M from question 2, answer the following questions: a) Determine the number of months it will take to pay off the $1400 credit card debt with a monthly payment of $50. Round the number of months to two decimal places. Number of months: b) How long is this in years, rounded to the nearest tenth of a year? Answer: c) What is the total amount paid to the credit card company, rounded to the nearest dollar? (Hint: Multiply the payment amount with your answer to part a)) Total Amount: $ d) How much of the total paid goes toward interest? Interest: $