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7. [1/2 Points] DETAILS PREVIOUS ANSWERS TANAPMATH7 4.R.032. MY NOTES ASK YOUR TEACHE The outstanding balance on Bill's credit card account is $3100. The bank issuing the credit card is charging 9.5%/year compounded monthly. If Bill decides to pay off his balance in equal monthly installments at the end of each month for the next 18 months, how much will be his monthly payment? (Round your answer to the nearest cent.) $ 185.5 X What is the effective rate of interest the bank is charging Bill? (Round your answer to three decimal places. ) 9.925 % annually Submit Assignment Save Assignment Progress Home My Assignments + Request Extension MacBook Air DD S 44 DII 20 F7 F8 F9 F10 F6 F2 F3 % 8 # 9 6 3 4 5 7 R Y U O P T Q W E K C F G H