Like many college students, Kristlne 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 HD Television for $250. At the end of the month, her credit card statement said she only needed to make a minimum monthly payment of 515. Assume Kristine makes her payment when she sees her statement at the end of each month. If Kristine 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 HD Television? Assume that the credit card company compounds Interest at the end of each month. 29.3 months 32.6 months 18.8 months 37.8 months 40.2 months Kristine now realizes she needs to pay more than just the minimum payment (unless she wants to be paying for this HD Television until she graduates). She decides to pay twice the minimum monthly payment (530 per month), Instead. How much quicker will she pay off the HD Television? 29.5 months 9.9 months 26.4 months 17.9 months 16.8 months If, Instead, Kristine wants to have the HD Television paid for by the end of the year, what minimum monthly payment must she make? $26.65 $22.56 $31.59 $32.09 $36.10