You have just entered college and have decided to pay for your living expenses using a credit card that has no minimum monthly payment. You intend to charge $ 900 per month on the card for the next 45 months. The card carries a monthly interest rate of 1 % . How much money will you owe on the card 46 months from now, when you receive your first statement post-graduation? After 45 months you will owe $ ?

Please show breakdown in excel