You are broke and finishing your first apartment after leaving the dorms (yeah!) You make a purchase for $7, 500 on your credit card for all types of miscellaneous things you need. The credit card has an annual interest rate of 15.99%, the student rate you received when you were in college. If you pay the minimum payment of 2% per month (not less than $25), What is your balance after 3 years (36 months), assuming you make no other purchases with your credit card? Again you are paying the minimum amount only. Make a table in Excel that looks like: (you can copy and paste this - it will work) and continue the pattern. The Excel faction MAX will calculate which value is the greater option between minimum payment of 2% or $25. Continue on with #1 above ........... let's say you only paid the minimum each month (and didn't make any additional purchases), how long would it take to pay off the balance? How much interest would you pay IN TOTAL from #2 if you only paid the minimum balance until it was paid in full? Assume that you have a balance on a store credit card (like a Best Buy or Macy's) of $2, 500 that carries an annual percentage rate of 23.99%. You start making monthly payments of $200, determined to pay off the balance quickly ..... Make a table th3t shows month, beginning balance, payment, interest, and ending balance. Make sure you change the INTEREST column above to be (B2* .2399)/12 How long will it take you to pay off the balance? How much total interest would you pay