5. With only a part-time job and the need for a professional wardrobe, Rachel quickly maxed out her credit card the summer after graduation. With her first full-time paycheck in August, she vowed to pay $280 each month toward paying down her $9,928 outstanding balance and to not use the card. The card has an annual interest rate of 12 percent. How long will it take Rachel to pay for her wardrobe? Should she shop for a new card? Why or why not