2) Your friend has to make a $1,000 charge on their credit card to pay for...

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2) Your friend has to make a $1,000 charge on their credit card to pay for car repairs and can only make the minimum payment for the next 3 months. Assume an APR of 15.99% and a required minimum payment of 5%. What will the balance be at the start of month 4? * Month Beginning Finance New Minimum Balance Charge Balance Payment $1,000 2 3 4 B 2) Your friend has to make a $1,000 charge on their credit card to pay for car repairs and can only make the minimum payment for the next 3 months. Assume an APR of 15.99% and a required minimum payment of 5%. What will the balance be at the start of month 4? * Month Beginning Finance New Minimum Balance Charge Balance Payment $1,000 2 3 4 B