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Marcus has a balance of $1,700 on his credit card. The credit card has an annual interest rate of 18%, compounded monthly (1.5% each month).

Marcus has a balance of $1,700 on his credit card. The credit card has an annual interest rate of 18%, compounded monthly (1.5% each month). Marcus uses his credit card for various expenses throughout month and, at the end of each month, makes a $250 payment. Use this information to complete the table below. Round to the nearest cent as needed.

Month Prior Balance 1.5% Interest on Prior Balance Additional Charges Monthly Payment Ending Balance
1 $1700
2 $1700 $ $281 $250 $
3 $ $ $278 $250 $
4 $ $27.16 $370 $250 $1958.01
5 $1958.01 $ $172 $250 $

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