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Gina has a new credit card with an APR of 19.99% and a credit limit of $2000. The minimum monthly payment is 6% of the new balance. If Gina purchases $250 in school supplies at the beginning of the month, what will be Gina’s new balance at the end of the month? Express your answer rounded to the nearest cent. When a credit card problem is needed there are few factors that we need to identify. They are as follows 1.APR ( Annual rate of interest). – Remember to have this value converted into monthly as by default Credit Cards accumulate interest monthly. 2.Purchases and Payments During the month. 3. Minimum monthly payment required. 4. Credit Card utilization limit. ( usually a info not required unless a specific info is given apart from the usual question)