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. her credit card record for the last 7 months is shown in the
table below.
end of
month
previous
balance
$0.00
$900.00
$899.25
5898.50
5897.75
5897.00
5896 26
new
charges
$900.00
$0.00
$0.00
50.00
$0.00
$0.00
50.00
payment
received
$0.00
$18.00
$17.99
$17.97
$17.96
$17.94
$17 93
finance
charges
$0.00
$17.25
$17.24
$17.22
$17 21
$17 19
$17 18
principal
paid
$0.00
$0.75
$0.75
50.75
$0.75
$0 75
50 75
new
balance
$900.00
$899.25
$898.50
$897.75
$897.00
$896 26
$895 51
vou
how is the new balance calculated?