Your APR for your credit card is 18.99%, which requires you to pay a monthly payment of at least equal to 4.5% of your current balance of $3750. In response to the last bill, you sent a payment of $225 and charged an additional $140 of purchases.

. Find the new balance before any interest is added for this month.

. Find the finance charge for this month.

. Find the total new balance, including finance charge.

. What is the minimum required payment for this month?

. Suppose you stop making new charges and pay only the minimum required payment each month for the next 3 years. What will your balance be?

. If you stop making new charges and pay only the required monthly minimum payment, how long will it take you, in years, to reduce your balance to less than $100?

. If you decide to pay the balance off in 3 years, instead of paying only the minimum, what must you pay each month?