You just received an offer in the mail to transfer the $8,000 balance from your current credit card, which charges an annual rate of 18.0 percent, to a new credit card charging a rate of 12.0 percent. You plan to make payments of $300 a month on this debt. How many fewer payments will you have to make to pay off this debt if you transfer the balance to the new card?

Required-- Answer the questions below:

Number of months to pay off debt with current credit card:

Number of months to pay off debt with new card: