Simon recently received a credit card with an 18% nominalinterest rate. With the card, he purchased an Apple iPhone 7 for $372.71. The minimumpayment on the card is only $10 per month.
a. If Simon makes the minimum monthly payment and makes no other charges, howmany months will it be before he pays off the card? Round to the nearest month.b. If Simon makes monthly payments of $35, how many months will it be before he paysoff the debt? Round to the nearest month.c. How much more in total payments will Simon make under the $10-a-month plan thanunder the $35-a-month plan? Make sure you use three decimal places for N.
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