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2. You recently received a credit card with an eighteen (18%) nominal interest rate. The minimum payment on the credit card is only $20 per

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2. You recently received a credit card with an eighteen (18\%) nominal interest rate. The minimum payment on the credit card is only $20 per month. You purchased a new $1300 laptop computer with the credit card. If you make the minimum monthly payment ONLY, and make no other charges to the credit card, how long will it be before you pay off the credit card balance? NOTE: Round to the nearest month. 65 months 77 months 125 months 248 months

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