Suppose that on January 1 you have a balance of $\$ 6100$ on a credit card whose APR is $15 \%$, which you want to pay off in 2 years. Assume that you make no additional charges to the card after January 1.
a. Calculate your monthly payments.
b. When the card is paid off, how much will you have paid since January 1 ?
c. What percentage of your total payment (part b) is interest?
a. The monthly payment is $\$ \square$.
(Do not round until the final answer. Then round to the nearest cent as needed.)

Step 1 ：Given that the balance on the credit card is $6100, the APR is 15%, and the goal is to pay off the balance in 2 years (24 months).

Step 2 ：We can calculate the monthly payments using the formula for the monthly payment on a loan: \(P = \frac{r \cdot PV}{1 - (1 + r)^{-n}}\), where P is the monthly payment, r is the monthly interest rate (annual rate divided by 12), PV is the present value or principal amount, and n is the number of payments.

Step 3 ：Substitute the given values into the formula: \(PV = 6100\), \(r_{annual} = 0.15\), \(r = 0.0125\), and \(n = 24\).

Step 4 ：Calculate the monthly payment: \(P = \frac{0.0125 \cdot 6100}{1 - (1 + 0.0125)^{-24}} = 295.7685530864021\).

Step 5 ：Round the monthly payment to the nearest cent to get the final answer: \(\boxed{\$295.77}\).