a. You currently owe$2,425.00of your credit card that charges an annual interest rate of20.01% . You make$138.00of new charges every month and make a payment of$224.00every month.What will your credit card balance be in three months?

b. You would like to retire in20.0years.The expected rate of inflation is3.52%per year.You currently have a standard of living that requires$6,707.00of monthly expenses.Assuming you want to maintain the Same standard of living in retirement, what are your monthly expenses expected to be the first year of retirement?