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5. (3/9 Points) DETAILS PREVIOUS ANSWERS MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Assume that you start with a balance of $5000 on your Visa

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5. (3/9 Points) DETAILS PREVIOUS ANSWERS MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Assume that you start with a balance of $5000 on your Visa credit card. During the first month, you charge $500, and during the second month, you charge $250. Assume that Visa has finance charges of 24% APR and that each month you make only the minimum payment of 2% of the balance. Complete the following table. (Round your answers to the nearest cent.) Previous balance Month 1 $5000.00 Purchases Minimum payment $ 100 Finance charge 100 New balance 500 $ 5500 Month 2 5500 110 x 250 110 5750 X eBook

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