Consider a credit card with a balance of $8500 and an APR of 16.5 % . If you want to make monthly payments in order to pay off the balance in 3 years, what is the total amount you will pay?

To calculate the total amount you will pay, we need to first determine the monthly payment amount.

The formula to calculate the monthly payment on a credit card balance is:

$$\text{Monthly Payment}= \frac{\text{Balance} \times \text{Monthly Interest Rate}}{1-\left(1+\text{Monthly Interest Rate}\right)^{-\text{Number of Payments}}}$$

Where:
- the "Balance" is the current balance on the credit card,
- the "Monthly Interest Rate" is the annual percentage rate (APR) divided by 12 to get the monthly interest rate, and
- the "Number of Payments" is the total number of monthly payments to be made.

Plugging in the given values:
- Balance = $8500,
- APR = 16.5% = 0.165, and
- Number of Payments = 3 years x 12 months/year = 36

We can now calculate the monthly payment:

Monthly Payment = 300.94 dollars