Attempt all questions and show all your work. Answer questions using sentences.

This assignment covers sections $1\mathrm{.}1,1\mathrm{.}2,$ and $1\mathrm{.}3$ of the notes and contains $4$ questions.

$[10]1.$ Your current credit card balance is $$10,000$ with a current rate of $15\mathrm{.}5\%$ per year.

Interest is charged monthly. Determine what monthly payment $p$ will pay off the

card in four years, assuming no new charges.