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Credit Card - Student Work Document Page 6 of 8 Now, suppose you want to buy a new set of living room furniture (couch, love seat, and coffee table). You will charge these to your credit card. Do some research online and find what you would like to see in your home. Couch: $ Love Seat:$ Coffee Table: Total: $ Using the total from the three items above, and monthly interest rate of 1.75%, calculate minimum payment Finance charge: 5 Minimum Payment: $ (Hint: Calculate the minimum payment as you did on page 1 of the project.) On the spreadsheet provided, fill in the Current Balance (sum of 3 items), Interest Rate (1.75%), and Monthly Payment (use the minimum payment you calculated). How many months will it take you to payoff your card? And, how much interest will you end up paying? Look at part of the spreadsheet Set a Payoff Goal (in months): What will your monthly payment need to be to meet this goal? How much interest will you end up paying in this case