Your friend must make a $1,000 charge on his 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 minimum payment be for month 2? Round your answer to the nearest cent. Remember, a finance charge is only applied to a carry-over balance! Month Beginning Balance Finance Charge New Balance 1000 1 2345 15 0 0 XXXXXXXXXX XXXXXXXXXX Minimum Payment XXXXXXXXXX