4. (18 POINTS) You have a credit card debt which is attracting interest at 18.5% per annum (APR) with monthly compounding. The bank has told you that if you pay 8328.37 per month it will take you exactly 107 months to pay off the debt. Instead, you want to pay it off faster by paying a larger amount each month. You believe that you can afford to pay $360 per month, and you will not use the credit card to make any more purchases. (a) Find the effective monthly interest rate. Find the PV of the debt. (6) How long will it take you to clear the debt if you raise your monthly payment to $360? Answer in months with at least two decimal places. Assume that all payments are made at the end of each month