Maria purchases a new big screen television for $850 on her VISA card that carries a favorable interest rate of 8.9% on new charges.

1. Determine how long it would take her to pay the television off if she plans on making monthly payments of:

1. $50
3. $75
5. $100

1. Compute the total amount that the television cost her with each of the different monthly payments.

1. Compute how much money she saved overall by making the $100 payment over the $50 payment.