Today, after having spent hours in the library doing your homework you decide that you need your own personal computer. The laptop you want is priced at $2,600.00 but all you have with you is $250.00 cash. Your only option now is to charge the remaining amount to your credit card. The credit card has an APR of 24.90% starting 6 months after the purchase date. You would be paying off the loan by giving $100.00 each month on the 1st starting in May 2018. A 8.25% sales tax will be applied to the $2,600. If you purchase the laptop today paying only the remaining amount using that credit card, how long will it take you to pay off the loan? Assume: That is the only payment you charge to the card No penalty fees are charged since you are very responsible and pay the $100 every month on time and you have sufficient founds so the payment does not go returned No annual fees Would you wait to purchase the laptop until you have saved enough or would you make the purchase using a credit card? Why or why not?

Please include

interest rate,Cash flow diagram, factors, input data, equations used, calculations, amd solution

Thanks