Mathematics, 05.02.2021 05:10, cookies1164
Jerome's credit card has an APR of 18%, 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.
Endo
month
Finance
charges
3000
333 00
2
3
4
5
6
7
Previous
balance
5000
$220000
$2189.00
5217800
32167 16
$215633
3214555
New
charges
220000
5000
50.00
50.00
5000
50 00
50 00
Payment
received
3000
54400
343 78
34) 56
543 34
54313
$42.91
Principal
paid
$0 00
$11.00
5109
$10.89
510
510 78
510 73
New
balance
3220000
$2159 00
5217800
52167 16
$2156 33
52145 55
52134.02
332 67
332 51
5.1234
$32.18
What is the total amount that Jerome has paid in interest over the 7 months?
O A. $195.54
O B. $260.72
O C. $32.18
O D. $65.18
Answers: 1
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Jerome's credit card has an APR of 18%, calculated on the previous monthly
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