Ql c) Answer the following questions: Answer the following questions involving Annuities. 1. A credit card charges an annual rate of 14% compounded monthly. This month's bill is $6000. The minimum payment is $125. Suppose I keep paying $125 each month. How long will it take to pay off the bill? What is the total interest paid during that period? 2. Suppose you want an item which costs $10000. You can save for it at $200 per month in an account earning 3% interest compounded monthly, or you can borrow at 8% paying off at a rate of $200 per month. With both of these options how long will it take until you have finished the payments? What is the total paid in each case