Credit card repayment. You decide to take a post-pandemic vacation to Sydney and put $6,000 worth of flights and accommodation on your credit card today. Your bank charges interest of 16%, expressed as an annual percentage rate with monthly compounding. In 6 months time you travel to Australia and immediately spend another $2,000. You make your first repayment at the end of month 8 and plan to make 28 equal monthly repayments to pay off the debt. What monthly repayment do you need to make?

a.$348 to $354

b.$354 to $360

c.$360 to $366

d.$366 to $372

e.$372 to $378

f.$378 to $384

g.$384 to $390

h.$390 to $396

i.$402 to $408

j.$408 to $414