QUESTION 9 You plan on making monthly payments of $50 to pay off a credit card that you just charged $1,000 to. If the interest rate is 24% compounded monthly, how many months will it take you to pay off the credit card balance? NOTE: State your answer in number of months. QUESTION 10 Each year, you plan on making a deposit of $3,000 into a savings account earning 9% compounded annually. You plan on working for at least 80 more years before you retire. How much will you have when you retire