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Suppose that on January 1 you have a balance of $3800 on a credit card whose APR is 16%, which you want to pay off

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Suppose that on January 1 you have a balance of $3800 on a credit card whose APR is 16%, which you want to pay off in 2 years. Assume that you make no additional charges to the card after January 1 . a. Calculate your monthly payments. b. When the card is paid off, how much will you have paid since January 1 ? c. What percentage of your total payment (part b) is interest? a. The monthly payment is $ (Do not round until the final answer. Then round to the nearest cent as needed.) b. The total paid since January 1 is $ (Use the answer from part a to find this answer. Round to the nearest cent as needed) c. The percentage of the total paid that is interest is \% (Use the answer from part b to find this answer. Round to one decimal place as needed.)

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