$($Calculating annuity$$ payments$)$

Calvin$$Johnson

has a

$$$$5,000$

debt balance on his Visa card that charges

$15\mathrm{.}1$

percent APR compounded monthly.$$ Let's assume

Calvin

only needed to make a minimum monthly payment of

$4$

percent of his debt$$ balance, which is

$$$$200.$

How many months$($round up$)$ will it take

Calvin$$Johnson

to pay off his credit card if he pays

$$200$

at the end of each$$ month? Now,$$ let's assume that the minimum monthly payment on credit cards rises to

$5$

percent. If

CalvinCalvin

makes monthly payments of

$$$$250$

at the end of each$$ month, how long will it take to pay off his credit$$ card?