Your credit care balance of $5700 and an annual interest rate of 12%. you decide to pay off the balance over five years.
if there are no further purchaes charged to the card, you must pay $126.79 each month, and you will pay a total interest of $1907.40
assume you decide to pay off the balance over one year rather than five. how much more must you pay each month and how much less will you pay in total interest?
1: you will pay $ more each month (round to the nearest cent as needed)
2. you will pay $ less in total interest. (round to the nearest cent as needed.