(Nonannual compounding using a calculator) Dennis Rodman has a $5,000 debt balance on his Visa card that charges an APR of 11.2 percent compounded monthly. Dennis's current minimum monthly payment is 4 percent of his debt balance, $200. How many months (round up) will it take Dennis to pay off his credit card if he pays the current miminum payment of $200 at the end of each month?

How many months will take Dennis to pay off his credit card?

____months

(Solving for r in compound interest) You lend a friend $17,000, for which your friend will repay you $43,000 at the end of 7 years. What interest rate are you charging your friend?

The interest rate you are charging your friend is ___ %