How much must you pay each month how much total interest, Financial Management

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How much must you pay each month how much total interest

Your credit card has a balance of exist 5100 and an annual interest rate of 16%. You decide to pay off the balance over three years. If there are no further purchases charged to the card,

a. How much must you pay each month?

b. How much total interest will you pay?

a. The monthly payments are approximately exist (Do not round until the final answer. Then round to the nearest dollar as needed.)

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