point(s) possible Suppose your credit card has a balance of $6.400 and an annual Interest rate of 14%. You decide to pay off the balance over three years. If there are no further purchases charged to the card. Use PMT= -- (a) How much must you pay each month? _ m (b) How much total Interest will you pay? [1 __ [1 + L] 1 Now suppose decide to pay off the balance over one year rather than three. n (c) How much more must you pay each month? to determine the payment (d) How much less will you pay In total interest? amount. Round to the nearest dollar. M o A. (a) $228 0 e. (a) $219 (b) 5596 (b) $500 (at $355 more per month: (1:) $356 more per month (d) $1.212 less In totat Interest (d) 3964 less In total Interest 0 C. (a) 3219 O D. (a) $228 to) $1.454 (b) $1.808 (c) $356 more per month (c) $355 more per month: Id) 5334 less In total Interest (d) $1,212 less in total interest