1.George has $20,000 in credit card debt at 18% interest compounded monthly. How many months will it take to pay off this amount:
a) If he makes a $350 payment each month?
b) If he makes a $520 payment each month?
2. What is the interest rate on loans with the following terms?
a) On $10,000 borrowed, pay $2,000 a year for 6 years.
b) On $2,000 borrowed, pay $100 a month for 25 months.