When you were a baby your parents started a college fund for

Last updated: 3/14/2023

When you were a baby your parents started a college fund for you Now that you attend college you are able to use those funds to reduce your tuition however you are on your own in terms of books and food By the end of Fall Quarter you have charged 1 300 worth of food and school supplies on your credit card which has an annual interest rate of 16 99 Assume that you only pay the minimum payment of 3 per month or 25 whichever is greater and also that you make no other purchases with your credit card a Set up an amortization table to show the month by month history of your balance Paste the first five months of the table into the pace below 3 points b How many months will it take you to pay off your balance Type your answer in the space below 1 point c How much interest will you pay Type your answer in the space below 1 point