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3. Suppose you decide to take the tour now and use a 15% credit card for the purchase. Use the calculators at bankrate.com to
3. Suppose you decide to take the tour now and use a 15% credit card for the purchase. Use the calculators at bankrate.com to answer the following questions. a. How many months will it take to pay off the $6,000 for the tour if you make a fixed payment of 4% of the original balance? It will take b. $ C. months. How much will you pay in interest if you make a fixed payment? will be paid in interest on the loan. How many months will it take to pay off the $6,000 tour if you make the minimum payment, assuming the minimum is 4% of the outstanding balance? It will take d. months. How much will you pay in interest if you make only the minimum payment? $ will be paid in interest. 14
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