You have a balance of $$2,976$ on an American Express credit card. Assume nothing

else is bought with the credit card during the payoff time.

A$.$ How long will it take to pay off the balance if you pay $$208$ per month with an

interest rate of $13\mathrm{.}44\%?$ State which equation you would use to solve this

problem, and explain why.

Answer: $1$ year, $4$ months

B$.$ How much interest will you have paid back by the time the balance is paid off?

Answer: $$285\mathrm{.}56$