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Question 6 (1 point) Saved Use the following scenario to answer the following two questions on the quiz: You have $50,000 in credit card debt.

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Question 6 (1 point) Saved Use the following scenario to answer the following two questions on the quiz: You have $50,000 in credit card debt. To help reduce your debt faster you decide to make a monthly payment of $1,200 (this is a flat payment). Your APR on the credit card is 18%. You must create an amortization table to answer the questions. The answer you enter must be rounded (correctly) to two decimal places. DO NOT include commas or dollar signs in your answer. For example, the end balance after 2 months would be entered as 49093.25. What is the end balance on your credit card after five years? (Be careful here - remember that your table is counting by months.) 6703.41 A/ Question 7 (1 point) How much total interest have you paid after 5 years? (Hint: This is not asking how much interest you pay in month 60, it is asking the total interest you have paid over all 60 months combined.)

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