Jessie purchased a notebook for $10,500 using a credit card. She

Question

considers two repayment plans.
i She makes the minimum monthly payment of $300 offered by the
credit card and no other charges are applicable.
ii She makes monthly payments of $900 and no other charges are applicable.
Compare the above plans. Which is better for Jessie if the interest is 4% per annum? And, how long would it take for Jessie to settle the repayment if she were to adopt plan (i) for three years and then plan (ii) thereafter?