ANNUITIES $$ NUMBER OF PAYMENTS

You ran a little short on your break vacation, so you

put $$1,000$ on your credit card. You can afford only

the minimum payment of $$20$ per month. The

interest rate on the credit card is $1\mathrm{.}5$ percent per

month. How long will you need to pay off the

$$1,000?$

Solve using PV or FV $($whatever it is$,$ financial class$)$