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Marcus has a balance of $1,900 on his credit card. The credit card has an annual interest rate of 18%, compounded monthly (1.5% each month).

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Marcus has a balance of $1,900 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 $300 payment. Use this information to complete the table below. Round to the nearest cent as needed. Month Prior Balance 1.5% Interest Additional Monthly on Prior Balance Charges Payment Ending Balance 1 $1900 $1900 $123 $300 $435 $300 4 $28.69 $256 $300 $1897.46 $1897.46 $405 $300

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