Jerome s credit card has an APR of 18 calculate balance and a minimum payment...
60.1K
Verified Solution
Link Copied!
Question
Geometry
Jerome s credit card has an APR of 18 calculate balance and a minimum payment of 2 starting the month after the first purchase His credit card record for the last 7 months is shown in the table below End of month 1 234567 Previous balance 0 00 2200 00 2189 00 2178 06 2167 16 2156 33 2145 55 New charges 2200 00 OA 65 18 OB 260 72 C 32 18 OD 195 54 0 00 0 00 0 00 0 00 0 00 0 00 Payment received 0 00 44 00 43 78 43 56 43 34 43 13 42 91 Finance charges 0 00 33 00 32 84 32 67 32 51 32 34 32 18 Principal paid 0 00 11 00 10 95 10 89 10 84 10 78 10 73 New balance 2200 00 2189 00 2178 06 2167 16 2156 33 2145 55 2134 82 What is the total amount that Jerome has paid in interest over the 7 months
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
