4) Suppose that your current credit card bill is $2,408 with an interest rate of 14.9%. Your required minimum payment is $30 per month.
a) Using a regular payment of $30 per month, make an amortization schedule for the first 4 months only of the loan.

b) Now calculate how long (the total time) it would take you to pay off the whole bill at that rate ($30 per month payments).

c) Looking at the first line of your amortization schedule, which specific number(s) give you a clue that this loan will take a LONG time to payoff? Explain

d) In the end, how much total will you end up paying back for the $2,408 loan?

e) If you decide to add just $15 to your payment (pay $45 per month instead of the minimum $30 required), find the time it would take you to pay off the bill.

f) Bottom line – what effect did your slightly increased payment have? (How much will you have saved in total interest if you make the $45 payments?)

I need answers for these questions and it has to be step by step