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Assume you have a balance of $1500 on a credit card. Use the credit card payoff calculator to answer the following questions. a. If the

Assume you have a balance of $1500 on a credit card. Use the credit card payoff calculator to answer the following questions.

a. If the credit card has an annual interest rate of 13.6% and only the minimum monthly payment of $25 is made, how many months will it take to pay off the credit card?

b.What is the total amount that would be spent to pay off the $1,500 if the monthly payment is $25?

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