Guadalupe's credit card has an APR of 23%, calculated on the previous
monthly 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 Previous
New
Payment Finance Principal
New
month
balance charges
charges
paid
balance
$0.00 $900.00 $0.00
$0.00
$0.00 $900.00
$900.00 $0.00 $18.00 $17.25
$0.75
$899.25
$899.25 $0.00 $17.99 $17.24 $0.75 $898.50
$898.50 $0.00 $17.97 $17.22 $0.75 $897.75
$897.75 $0.00 $17.96 $17.21 $0.75 $897.00
$897.00 $0.00 $17.94
$17.19
$0.75 $896.26
$896.26 $0.00 $17.93 $17.18 $0.75 $895.51
About what percentage of Guadalupe's payments so far have gone to paying
interest?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Guadalupe's credit card has an APR of 23%, calculated on the previous monthly balance, and a minimum payment of 2%, starting the month ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Rosa has decided to sell pet rocks at an art fair for 5 dollars each. She has paid 50 dollars to rent a table at the fair and it costs her 2 dollars to package each rock with a set of instructions. For what number of sales will Rosa makes profit?
Answers (1)
Show how to use mental Math to find 513 - 198
Answers (1)
Write the following conjugate binomial in standard form. Like this example. (a) (x + 3) (x - 3) = x (x - 3) + 3 (x - 3) = x^2 - 3x + 3x - 9 =
Answers (1)
The number below represents the number of fans that attended Chicago Cubs baseball games in 2008. What is this number written in standard form? (3x1,000,000) + (3x100,000) + (2x100)
Answers (1)
2d - 5 = 17 what is the value of d?
Answers (1)
New Questions in Mathematics
Change the decimal 13/20 to a decimal A. 0.65 B. 0.065 C. 0.15 D. 0.015
Answers (2)
For the basic function f (x) = x, what conclusions can you make about fix) and f (x) - 5? Select all that apply. a. They intercepts are the same. b. The function () - 5 has a greater rate of change c. They are parallel lines: d.
Answers (1)
What is the coordinate if (2,2) is reflected over x=2
Answers (1)
What is 2 (x - 1/2) = 3 (5-2x)
Answers (1)
A. Dalton's cell phone provider charges $0.15 for each text message over his plan's limit. How much will they charge Dalton for 125 messages over his limit? B. Why does this charge show up as a negative number on his bill?
Answers (1)