1. 1. Let us calculate the number of periods. Suppose you owe $14,700 on your credit card with 0.9 % interest.

If you are making payments of $500 a month, how long will it take for you to pay off this credit? Show steps.  

2. You have been approved for a loan to purchase a new home for $250k at 5% interest. The mortgage is for 15 years. Show steps! 

NO USING FINANCIAL CALCULATORS! NO COPY AND PASTE FROM INTERNET!
How much are the annual payments?

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