3. You have a credit card and the annual interest is 28.99% compounded monthly. You have used your card once to buy
a Playstation for $500 and games for $150. Your minimum
payment is $35
a. What is your monthly interest rate
b. Does the minimum payment cover the interest if so, how
much goes to interest and how much to your principal
c. How long would it take you to pay off the card if you don't
add any more to the card