Assume that you have a credit card whose statement on June 1 showed that you owe $1, 720.00. You made a payment to the credit card company of $600.00 on the same day using on-line payment. Through the month of June you charged $295.00 on this card. On July 1 you made a payment of $730.00 to the company. Throughout the month of July you charged $530.00 on this card. Draw a timeline showing this cash flow. How much do you owe the credit card company on August 1. Assume the company charges 1% per month