. Credit card debt High interest rates make it difficult for people to pay off credit card debt in a reasonable period of time. The interest I (in dollars) paid on a $10,000 debt over 3 years when the interest rate is r% can be approximated by the equation I 175.393 1 0.663 5 r (Source: Consumer Federation of America). If the credit card interest rate is 19.8%, find the amount of interest paid during the 3 years.