If Jeong pays $165 per month on his Visa balance over the course of 2 years, how much was his credit card balance if the interest rate on his card is 11.99% ? Assume he makes no more charges on his card while paying it off. State which equation you would use to solve this problem, and explain why. Answer: $3,505.51 You have a balance of $2,976 on an American Express credit card. Assume nothing else is bought with the credit card during the payoff time. A. How long will it take to pay off the balance if you pay $208 per month with an interest rate of 13.44% ? State which equation you would use to solve this problem, and explain why. Answer: 1 year, 4 months B. How much interest will you have paid back by the time the balance is paid off? Answer: $285.56