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?