Leroy's credit card has an apr of 21%, 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
month
principal
new
charges
$2600.00
$0.00
payment
received
so 00
paid
so 00
$6.50
$52.00
previous
balance
50.00
$2600 00
32593 50
$2587 02
$2580 55
$2574 10
52567 66
finance
charges
$0 do
$45 50
$45 39
$45 27
$45 16
$0.00
$5187

sto
new
balance
$2600.00
$2593 50
$2587 02
$2580.55
52574 10
$2567 66
$2561 24
9
$4505
54493
how much of the initial purchase has leroy paid off over the 7 months?