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#27 USE EXCEL show work 4.5 years of monthly payments? 2 (Amortization) Sam has an outstanding balance of $2,050 on his credit card. Due to

#27 USE EXCEL show work image text in transcribed
4.5 years of monthly payments? 2 (Amortization) Sam has an outstanding balance of $2,050 on his credit card. Due to financial constraints, he plans to make the $25 minimum monthly payment. His annual interest rate is 10.5%. How long will it take him to pay off the credit card? What will be his balance after making 4.5 years of monthly payments? terest rate of 12 % over ln

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