The following table shows annual rates for various types of loans in 2015. Assume monthly payments and compounding periods. HINT [See Examples 5 and 7.] Loan 30-Year 15-Year 5-Year 4-Year Credit Type Mortgage Mortgage Car Loan Car Loan Cards October 3.93 3.14 4.30 4.24 13.10 Rate (%) November 4.09 3.31 4.31 4.26 13.10 Rate (%) December 4.09 3.34 4.34 4.29 13.10 Rate (%) You currently owe $7000 on your credit card, which charges interest at the October 2015 rate. What is the least you need to pay per month to pay off the card in 11 years? (Round your answer to the nearest cent.)

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