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QUESTION 7 Today, you use your credit card to buy a television for $1,600. You plan to make only the minimum payment of $40 per

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QUESTION 7 Today, you use your credit card to buy a television for $1,600. You plan to make only the minimum payment of $40 per month. If the interest rate for the credit card is 1.5% per month, how long will it take for you to pay off your balance, assuming you make no new purchases? C 40 months C 85.25 months C 61.54 months 36.22 months

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