Suppose you have a balance of B dollars on a credit card. You choose to stop charging and pay off the card, making only minimum monthly payments. If your card charges an APR of r, as a decimal, and requires a minimum monthly payment of 5% of the balance, then the time T, in months, required to reduce your balance to $100 is given by 2- log(B) T= Suppose your current balance is $8000. (a) How long will it take to reduce your balance to $100 if the APR for your card is 29%? Report your answer to the nearest whole month. x months

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