Assume that you start with a balance of $3500 on your credit card. During the...
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Finance
Assume that you start with a balance of $3500 on your credit card. During the first month, you charge $600, and during the second month, you charge $650. Assume that your credit card charges a 25% APR and that each month you make only the minimum payment of 2.5% of the balance. Complete the following table. (Round your answers to the nearest cent.)
| Previous Balance | Finance Charge (+) | Purchases (+) | Payments (-) | New Balance | |
|---|---|---|---|---|---|
| Month 1 | |||||
| Month 2 |
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