Consider a credit card with an APR of 24.99% and a minimum payment each month of...

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Consider a credit card with an APR of 24.99% and a minimum payment each month of 5% of the new balance. The beginning balance is $500 and no additional charges are made during the next three months and only the minimum payment is made each month. Given the table below, the total finance charge is what percent of the total payments? Month Starting Balance Finance Charge New Balance Minimum Payment 1 $500 $10.41 $510.41 $25.52 2 $484.89 $10.1 $494.99 $24.75 3 $470.24 $9.79 $480.03 $24 4 $456.03 XXX XXX XXX Express your answer rounded to the nearest tenth of a percent. % Consider a credit card with an APR of 24.99% and a minimum payment each month of 5% of the new balance. The beginning balance is $500 and no additional charges are made during the next three months and only the minimum payment is made each month. Given the table below, the total finance charge is what percent of the total payments? Month Starting Balance Finance Charge New Balance Minimum Payment 1 $500 $10.41 $510.41 $25.52 2 $484.89 $10.1 $494.99 $24.75 3 $470.24 $9.79 $480.03 $24 4 $456.03 XXX XXX XXX Express your answer rounded to the nearest tenth of a percent. %