You have a $1,100 balance on your 15% credit card. You have lost your job and been unemployed for 6 months. You have been unable to make any payments on your balance. However, you received a tax refund and want to pay off the credit card.

a. How much will you owe on the credit card if you have not made a payment for 6 months? (Round your answers to the nearest cent.)

Amount owed

month $ 1

month $ 2

months $ 3

months $ 4

months $ 5

months $6

b. How much interest will have accrued? (Round your answer to the nearest cent.) Interest accrued $

c. What will be the effective rate of interest after the 6 months? (Round your answer to the nearest hundredth percent.) Effective rate of interest %