1. Suppose you borrow $5000 to buy a car on your credit card :/ Your loan repayment plan is $150 a month at 25% APR compounded monthly.
a. How long does it take to pay off the loan? Round to the nearest month.
b. How much interest do we pay in total?
c. How much do we pay in total for the car?
d. What is our total interest paid as a percent of the original loan?
