document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1139390>Question 1139390</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Hi I hate to bother you all again but this question is really making me stuck. I understand how to come up with minimum payments and finance charges after you decide to stop charging but what about if new charges have been made?\r<BR>\n" );
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document.write( "Assume that you start with a balance of $5000 on your MasterCard. Assume that MasterCard has finance charges of 16% APR and that each month you make only the minimum payment of 3% of the balance. During the first month, you charge $350, and during the second month, you charge $500. Complete the following table. (Round your answers to the nearest cent.)<BR>\n" );
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document.write( "Month 1---Previous Balance  Min Payment  Purchases  Finance charges  New Balance<BR>\n" );
document.write( "           ______________   ___________	 _________  ______________   ___________<BR>\n" );
document.write( "Month 2--- ______________   ___________  _________  ______________   ___________	 </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #759868 by </B><A HREF=/tutors/aboutme.mpl?userid=MathLover1><B>MathLover1(20849)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=MathLover1><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=MathLover1><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=759868\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <BR>\n" );
document.write( "Month #1:<BR>\n" );
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document.write( "  <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=350+%2A+%281.16%29+=+406 ALIGN=MIDDLE  ALT=\"350+%2A+%281.16%29+=+406\"   DISABLED_style= \"max-width:90%; height:auto;\" > <-- interest charge<BR>\n" );
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document.write( "  you pay <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=3 ALIGN=MIDDLE  ALT=\"3\"   DISABLED_style= \"max-width:90%; height:auto;\" >%, so <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=0.97+%2A+406+=+393.82 ALIGN=MIDDLE  ALT=\"0.97+%2A+406+=+393.82\"   DISABLED_style= \"max-width:90%; height:auto;\" > <--- balance after 1 month<BR>\n" );
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document.write( "Month #2:<BR>\n" );
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document.write( "     <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=393.82+%2B+500++=+893.82 ALIGN=MIDDLE  ALT=\"393.82+%2B+500++=+893.82\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
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document.write( "   <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=893.82+%2A+1.16+=+1036.83 ALIGN=MIDDLE  ALT=\"893.82+%2A+1.16+=+1036.83\"   DISABLED_style= \"max-width:90%; height:auto;\" > <-- interest charge<BR>\n" );
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document.write( "    You pay <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=3 ALIGN=MIDDLE  ALT=\"3\"   DISABLED_style= \"max-width:90%; height:auto;\" >%, so <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=0.97+%2A+1036.83+=+1005.73 ALIGN=MIDDLE  ALT=\"0.97+%2A+1036.83+=+1005.73\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
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document.write( "$<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=5000-+1005.73=+3994.28 ALIGN=MIDDLE  ALT=\"5000-+1005.73=+3994.28\"   DISABLED_style= \"max-width:90%; height:auto;\" > remains on the card\r<BR>\n" );
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document.write( "  </SPAN>\n" );
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