Suppose that on January 1 you have a balance of ​$3100 on a credit card whose APR is ​17%, which you want to pay off in 1 year. Assume that you make no additional charges to the card after January 1.a. Calculate your monthly payments.
b. When the card is paid​ off, how much will you have paid since January​ 1?
c. What percentage of your total payment from part​ (b) is​ interest?