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. You purchase $400 of textbooks completely on a new credit card. Remember that finance charges are only applied to carry-over balances. You will just

. You purchase $400 of textbooks completely on a new credit card. Remember that finance charges are only applied to carry-over balances. You will just pay the minimum payment each month for the next two months. The APR is 20.99% and the minimum payment each month is 5% of the balance. Determine the starting balance for month 3 by filling out the table below. Round values to the nearest cent:

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Foundations of Finance The Logic and Practice of Financial Management

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