Suppose your credit card has a balance of $8,200 and an annual interest rate of 16%. You decide to pay off the balance over three years. If there are no further purchases charged to the card, (a) How much must you pay each month? (b) How much total interest will you pay? Now suppose decide to pay off the balance over one year rather than three. (c) How much more must you pay each month? to determine the payment (d) How much less will you pay in total interest? amount. Round to the nearest dollar. A. (a) $288 B. (a) $301 (b) $728 (b) $872 (c) $456 more per month (c) $455 more per month; (d) $1,440 less in total interest (d) $1,764 less in total interest C. (a) $288 D. (a) $301 (b) $2,168 (b) $2,636 (c) $456 more per month (c) $455 more per month; (d) $1,440 less in total interest (d) $1,764 less in total interest