3. You have just entered an MPP program and have decided to pay for your living expenses using a credit card that has no minimum monthly payment so you will not be making any payment while you pursue your education. You intend to charge $1000 per month on the card for the next 21 months. The card carries a monthly interest rate of 1%. How much money will you owe on the card 22 months from now, when you receive your first statement post-graduation? a. Make sure you account for the 22nd month of interest while calculating your total payment. b. Note that the future value formula for an annuity computes the future value as of the date of the last payment