explain each step with details and write neatly

1 Discrete Dynamical Systems balance Interest Annual Interest Rate Monthly Interest Rate FIGURE 1.24 Credit Card Compartmental Diagram 3. One of the authors, has a credit card which has a minimum payment of 3% of the balance or $10, whichever is larger. With this assumption, how long will it take to pay off the credit card? Note: When defining payments you may use an IF THEN ELSE construction. 4. Keeping with the assumptions in 3, suppose we are interested in how much borrowing $1,000 costs. Add a mechanism for keeping track of total payments. A compartmental diagram is shown in Figure 1.25. 5. Suppose we pay $10 more than the minimum payment each month. What effect does this have on the total payments and the time to pay off the card? 1 Discrete Dynamical Systems balance Interest Annual Interest Rate Monthly Interest Rate FIGURE 1.24 Credit Card Compartmental Diagram 3. One of the authors, has a credit card which has a minimum payment of 3% of the balance or $10, whichever is larger. With this assumption, how long will it take to pay off the credit card? Note: When defining payments you may use an IF THEN ELSE construction. 4. Keeping with the assumptions in 3, suppose we are interested in how much borrowing $1,000 costs. Add a mechanism for keeping track of total payments. A compartmental diagram is shown in Figure 1.25. 5. Suppose we pay $10 more than the minimum payment each month. What effect does this have on the total payments and the time to pay off the card