You have a carry-over balance of $325 of credit card charges with no additional charges and you plan to just pay the minimum payment each month for the next two months. The Annual Percentage Rate (APR) is 14.99% and the minimum payment each month is 4% of the balance. Determine the finance charge, new balance, and minimum payment required for each of the next two months, and the carry over balance for month 3 in the table below:

(round all answers to the nearest cent)

Month Carry Over Balance Finance Charge New Balance Minimum Payment
1 325.00
2
3