Q3) You currently owe $3,972 to your credit card that charges an annual interest rate of 22.00%. You make $176 of new charges every month and make a payment of $241 every month. What will your credit card balance be in three months?

Q4) You would like to retire in 21 years. The expected rate of inflation is 04.00% per year. You currently have a standard of living that requires $9,676 of monthly expenses. Assuming you want to maintain the same standard of living in retirement, what are your monthly expenses expected to be the first year of retirement?