Maria purchases a new big screen television for $850 on her VISA card that carries a favorable interest rate of 8.9% on new charges.
- Determine how long it would take her to pay the television off if she plans on making monthly payments of:
- $50
- $75
- $100
- Compute the total amount that the television cost her with each of the different monthly payments.
- Compute how much money she saved overall by making the $100 payment over the $50 payment.
The points will be awarded based on the accuracy and completeness of your work. Make sure to use the same numbering for your answers as the question you are responding to.