Viktor is a bike tour operator and needs to replace two of his touring bikes. he orders two bikes from the sporting goods store for a total of $2,000 and pays using his credit card. when the bill arrives, he reads the following information: balance: $2,000 annual interest rate: 14.9% minimum payment due: $40 late fee: $10 if payment not received by 3/1/2013 to keep his good credit, viktor promptly sends in a minimum payment of $40. when the next bill arrives, it looks a lot like the previous bill. balance: $1,984.34 annual interest rate: 14.9% minimum payment due: $40 late fee: $10 if payment not received by 4/1/2013 explain how the credit card company calculated the new balance. notice that the given interest rate is annual, but the payment is monthly.