Like many college students, Brooke applied for and got a credit card that has an annual percentage rate (APR) of 15%. The first thing she did was buy a new stereo system for $300. At the end of the month, her credit card statement said she only needed to make a minimum monthly payment of $10. Assume Brooke makes her payment when she sees her statement at the end of each month. If Brooke doesn't charge anything else and only makes the minimum monthly payments, approximately how many months would it take her to completely pay off the stereo system? Assume that the credit card company compounds interest at the end of each month 46.3 months 20.8 months 50.0 months 40.2 months O 37.8 months Brooke now realizes she needs to pay more than just the minimum payment (unless she wants to be paying for this stereo system until she graduates). She decides to pay twice the minimum monthly payment (520 per month), instead. How much quicker will she pay off the stereo system? 26.4 months 13.9 months 23.1 month 29.5 months 211 months 1, instead, Brooke wants to have the stereo system paid for by the end of the year, what minimum monthly payment must she make $31.59 523.56 $27.00