Please solve in excel and show formulas

2. You have a credit card with a $10,000 balance. The card carries a 17% APR. The credit terms include a minimum monthly payment of 3.0% of the card's balance, but no less than $50.00 per month. a. If you only make minimum payments, how long will it take to pay off the current balance? b. How much extra must you pay every month if you want to pay off the balance in 8 years. c. If you wish to pay off your credit card balance in no more than 6 years, what is the maximum balance you should acquire? Assume that you make no additional charges after reaching this balance. NOTE: You may employ VLOOKUP, INDEX/MATCH, or ANY OTHER method of your choosing to solve parts a and b. To receive credit, you MUST provide support for your answers. I must be able to replicate your results. A 2. You have a credit card with a $10,000 balance. The card carries a 17% APR. The credit terms include a minimum monthly payment of 3.0% of the card's balance, but no less than $50.00 per month. a. If you only make minimum payments, how long will it take to pay off the current balance? b. How much extra must you pay every month if you want to pay off the balance in 8 years. c. If you wish to pay off your credit card balance in no more than 6 years, what is the maximum balance you should acquire? Assume that you make no additional charges after reaching this balance. NOTE: You may employ VLOOKUP, INDEX/MATCH, or ANY OTHER method of your choosing to solve parts a and b. To receive credit, you MUST provide support for your answers. I must be able to replicate your results. A