Use the "Debt Payoff Calculator" tab (the second tab) on the Loan Calculator spreadsheet that you used earlier to answer the following questions: Assume you have a $5,000 balance on a credit card that charges 18% annual interest, and that you want to pay it off over the next 5 years (round all answers up or down to the nearest dollar and don't use dollar signs): How much do you need to pay each month? How much total interest will you pay over the 5 years? Assume you have a $5,000 balance on a credit card that charges 24% annual interest, and that you want to pay it off over the next 5 years (round all answers up or down to the nearest dollar and don't use dollar signs): How much do you need to pay each month? How much do you need to pay each month? How much total interest will you pay over the 5 years? Assume you have a $5,000 balance on a credit card that charges 24% annual interest, and that you want to pay it off over the next 3 years (round all answers up or down to the nearest dollar and don't use dollar signs): How much do you need to pay each month? How much total interest will you pay over the 3 years? Takeaways: It pays to shop around for a lower- interest credit card if you anticipate that you will need to carry a balance (i.e., if you can't pay it off each month)