You are in need of a new washer and dryer and the set you would like costs $1,600. You do not have access to enough cash to pay for the washer and dryer in full at time of purchase and are exploring your financing options.

1. emergency credit card in your wallet that charges 2% per month (APR = 24% compounded monthly). payment period=24 months calculate the monthly payment?

2. paying 100$ per month. How long does it take to pay off the credit card