You have a credit card with an APR of 20.8%. You begin with a balance of $1000, in response to which you make a payment of $250. The first month you make charges amounting to $600. You make a payment of $250 to reduce the new balance, and the second month you charge $800. Complete the following table. (Round your answers to the nearest cent.)

               Previous balance     Payments    Purchases  Finance charge    New balance

Month 1    $1000 

Month 2   $ 

2.Assume that you start with a balance of $4500 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.)

              Previous balance    Minimum payment    Purchases  Finance charge   New balance

 Month 1    $4500.00 

Month 2    $ 

3.Below is a hypothetical CPI table. Fill in the missing inflation rates.

Year           HypotheticalCPI      Inflation rate       

1935                    10                                 —

1936                    20                               %

1937                   40                                %

1938                   80                               %

4.Below is a hypothetical CPI table.

Year            Hypothetical CPI         Inflation rate

1934                       10                               —

1935                       20                              %

1936                       40                              %

1937                      80                               %

Find the three-year inflation rate from 1934 to 1937.

Answer rating: 100% (QA)

1 To complete the table we need to calculate the finance charge and the new balance for each month based on the given information Lets calculate Month 1 Previous balance 1000 Payments 250 Purchases 60... View the full answer