Recently, you made multiple large purchases on your credit card totaling $17,200. The interest rate on your credit card is 15.3% per year, compounded monthly, and your statement says your minimum payment is $280 per month.

(a)

How many minimum payments will you need to make in order to pay off your purchases, assuming you cut up your credit card and do not make any additional purchases? (Round your answer up to the nearest number of payments.)

You will need minimum payments.

(b)

How much total interest (in dollars) will you pay by making the minimum monthly payment? (Round your answer to the nearest dollar.)

$

minimum payment is $280 per month. (a) Mow many minmum payments wal you need to make in order to par off your purchases, assuming you cut up your credt card and do not make any add tional purchases? (Round your answef. up to the nearest number of payments.) You witi need minimum peyments. (b) How much total interest (in dollirs) wa wou aay by making the minimum monthiy payment? (Found wour answer to the neurest dolars)