Mathematics, 13.01.2020 05:31 markarianlaura1

Norma's credit card has an apr of 16%, calculated on the previous monthly
balance, and a minimum payment of 2%, starting the month after the first
purchase. her credit card record for the last 7 months is shown in the table
below.
end of
month
previous
balance
$0.00
$3300.00
$3278.00
$3256.15
$3234.44
$3212.88
$3191.46
new
charges
$3300.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
payment
received
$0.00
$66.00
$65.56
$65.12
$64.69
$64.26
$63.83
finance
charges
$0.00
$44.00
$43.71
$43.42
$43.13
$42.84
$42.55
principal
paid
$0.00
$22.00
$21.85
$21.71
$21.56
$21.42
$21.28
new
balance
$3300.00
$3278.00
$3256.15
$3234.44
$3212.88
$3191.46
$3170.18
what is the total amount that norma has made in payments over the 7
months?

Answers: 3

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Norma's credit card has an apr of 16%, calculated on the previous monthly
balance, and a minim...

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