The Boston Globe reported on August 21 2009 credit card companies cut limits o

The Boston Globe reported on August 21 2009 credit card companies cut limits on 58 million cardholders spanning from May 2008 to April 2009. This
affected about one-third of American consumers. Surprisingly many of these consumers had good credit scores. Dionne McGrady had planned on using a 0%
interest for a year transfer credit card offer to make $8500 worth of home improvements before her credit limit was cut. Because of this cut she had to
take out a loan to finance the project. She was offered an 11% 10% down 12-month loan. What is her monthly payment to the nearest cent (use loan
amortization table)? What will the reduction in credit limit cost her?