4. Compute Time (N): You owe $5000 on a credit card that charges an annual rate of 24%. Note: Credit cards compound interest monthly. (24/12 = 2 for the interest rate) If you make minimum monthly payments of $125, how many months will it take to pay it off, assuming you do not charge anything else? How many years?

5. Compute I/Y (interest rate): If you have invested $2500 today, and it will be worth $5000 in 10 years, what is the annual interest rate you are earning?