Tom just received a credit card with an introductory apr of 0% for nine months and a credit limit of $500. the apr for purchases after the introductory period is 19.9%. the penalty apr is 24.9% and the apr for cash advances is 20.4%. tom uses his card at the mall and spends $360. if tom wants to have a balance of $0 before his introductory period expires, what monthly payments should he make?

The monthly payment Tom must make is $40

Step-by-step explanation:

The steps taken in solving the problem is shown below

Tom received a credit card with an APR =0%

The credit limit is = $500

The APT for purchases after the introductory period is = 19.9%

The APR penalty is = 24.9%

APR cash advances = 20.4%

Tom spends $360 with his card at the mall, for which  He wants his balance to be zero  before his introductory period elapses.

For a 9 months period, Tom must divide his spending's  /expenses

Therefore

$360 ÷ 9 months gives  = $40

6cm

step-by-step explanation:

1. 293.2

2. 105.25   (105.3)