You charge $4,500 on a credit card for major car repairs. Since the interest rate on the unpaid balance is 21.35% compounded monthly, you decide not to charge anymore money on that
credit card. You also decide that you will pay off the credit card balance in two years, so
you arrange to have automatic payments sent at the end of each month to the credit card
company.
(a) What monthly payment must you make in order to have the account balance paid off in
two years?
(b) Create an amortization table for this scenario.