Suppose you owe \( \$ 500 \) on your credit card and you decide to make no new purchases and to make the minimum monthly payment on the account. Assuming that the interest rate on your card is \( 2 \% \) per month on the unpaid balance and that the minimum payment is \( 4 \% \) of the total (balance plus interest), your balance after \( t \) months is given by \( B(t)=500\left(0.9792^{\mathrm{f}}\right. \) ). Find your balance at each of the given times. Complete parts (a) through (e) below. After one year, the balance is \( \$ \) \( \square \) 388.53 (Round to the nearest cent as needed.) (c) six years After six years, the balance is \( \$ 110.08 \). (Round to the nearest cent as needed.) (d) eight years After eight years, the balance is \( \$ 66.47 \). (Round to the nearest cent as needed.) (e) On the basis of your answers to parts (a)-(d), what advice wolld you give to your friends about minimum payments? A. The minimum payment minimizes the short-term cost and maximizes the long-term cost. It would be advisable to pay more than the minimum monthly payment when possible to decrease the overall cost. B. The minimum payment minimizes the short-term cost and maximizes the long-term cost If would be advisable to pay only the minimum monthly payment to decrease the short-term cost. C. The minimum payment maximizes the short-term cost and minimizes the long-term cost if would be advisable to pay more than the minimum monthly payment when possible to decrease the overall cost. D. The minimum payment maximizes the short-term cost and minimizes the long-term cost. It would be advisable to pay only the minimum monthly payment to docrease the short-term cost.