APR stands for Annual Percentage Rate. It is the total interest rate for the entire year. However, we normally make a credit card payment each month. The amount of interest paid each month is called the Periodic Rate $($make sure to search it on the internet if you don't know what it means$).$ Find the monthly Periodic Rate for an APR of $10\mathrm{.}99\%,$ rounded to two decimal places.Brian has a very low credit score and has to pay the highest interest rate. He is not able to pay off his balance each month, so he pays interest. Calculate how much interest he would pay in the month of January if his balance is $$5000,$ to the nearest cent.Don't round the interest rate while calculating.$