Kendall's credit card has an APR of 29%, calculated on the previous monthly
balance. 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 received charges
paid balance
| $0.00 $188.00
50.00
$0.00 $0.00 $188.00
$188.00 $105.00 $297 54 $4 54 $293.00 $0.00
$0.00 $73.00 $27 34 $0.00 $27.34 $45.66
$45.66 $278.00 $48.11
$1.10
$47.01 $276.66
$276.66 $21.00 $142 98
$6.69
$ 136 29 $161.36
$161 36 $193.00 $32 99 $3 90 $29.09 $325 27
$325 27 $344.00 $22 94 $7 86 $15.08
vowN-
What is the new balance at the end of month 7?
O A. $297.54
O B. $325.37
The correct answer $654.19