Question

Select the most likely outcome of making only on-time minimum payments to a credit card with a balance for an entire year?

Answer 1

The most likely outcome would be that most of the payments would probably go to interest unless the balance was very small and very little would go to principal so it would just be 'treading water' and maintaining the debt. If that is all the credit card holder can afford that is fine but if they could afford a little more in payments then the balance can come down. 

Answer 2

I believe the answer is: Your payments will have gone mostly towards paying interest and you will still owe the majority of the balance that you had from a year ago.

When this happen your profile would be seem as financially risky by other financial institution in the market.
This would make your credit score to fall down, and would make it really hard for you to obtain any other form of loan in the future.