explain each step with details and write neatly We were unable to transcribe this image1 Discrete Dy

explain each step with details and write neatly
We were unable to transcribe this image1 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?