Your credit card carries a 23.99% interest rate. You want to pay off your balance of $8700 with equal monthly payments over 3 years. How much should each payment be? How much total interest do you pay? Refer to the problem above. You transfer your balance to a card charging 5.95% interest. How much should each payment be to retire your debt after 3 years? How much total interest do you pay? How much total interest do you save over the card with the 23.99% interest rate?