Use the TMV solver on your calculator to solve

N(total amount of payments)= m t (m=compounding periods) (t=years)

I%= the annual interest rate (as a %)

PV= Principal (total amount owed)

PMT= regular payment amount per period

FV= future value (A)

P/Y= number of payments made per year (m)

C/Y= the number of compounding periods per year (m)

Recently, you made multiple large purchases on your credit card totaling $16,650. The interest rate on your credit card is 16.9% per year, compounded monthly, and your statement says your minimum payment is $395 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 a payments. You will need minimum payments. b. How much total interest, to the nearest dollar, will you pay by making the minimum monthly payment? Total interests