1. Credit Card company offers an interrest rate of 1896. You buy a new Iphone for a $1000 on this credit card. a) If you do not pay off the credit card how much would you owe after 6 months? by if you do not pay off the credit card how much would you owe after 1 year? C) If you do not pay off the credit card how much would you owe after 5 years? 2. While researching student loans you discovered that although they offer reasonable interest rates they compound continuously. After scholarships and Financial Aid calculated you determined you will need to borrow $5000 for the upcoming school year. a) If you manage to get an interest rate of 4.35%, and you made no payments on the loan, how many years would it be until you owed $15000? b) If you managed to get an interest rate of 4.15%, and you made no payments on the loan, how many years would it be unit you owed $12000. c) if you decided to work a job and only take a loan of $2500 at a rate of 4.15%, and you made no payments on the loan, how many years would it be unit you owed $12000