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Your credit card has a balance of $2500 and an annual interest rate of 13% You decide to pay off the balance over three years

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Your credit card has a balance of $2500 and an annual interest rate of 13% You decide to pay off the balance over three years If there are no further purchases charged to the card, you must pay $84 26 each month and you will pay a total interest of $533 36. Assume you decide to pay off the balance over one year rather than three. How much more must you pay each month and how much less will you pay in total interest? Use PMTE to determine the regular payment amount -ht 1 You will pay $ 139.03 more each month (Round to the nearest cent as needed) You will pay less in total interest (Round to the nearest cent as needed.)

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