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1. [-/2 Points DETAILS MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER The previous statement for your credit card had a balance of 5670. You make
1. [-/2 Points DETAILS MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER The previous statement for your credit card had a balance of 5670. You make purchases of $330 and make a payment of $60. The credit card has an APR of 22%. What is the finance charge for this month? (Round your answer to the nearest cent.) 2. [-/10.4 Points) DETAILS MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Assume that you start with a balance of 5570 on your credit card. During the first month, you charge 5200 and make a payment of $400. During the second month, you charge $90 and make a payment of $280. Assume that your credit card charges a 20% APR. Complete the following table. (Round your answers to the nearest cont.) Previous Finance Charge Purchases Payments New Balance ( Balance Month 1 Month 2 3. [-/11.8 Points] DETAILS MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER You have a credit card with an APR of 28%. The minimum payment is 12% of the balance. Suppose you have a balance of 5950. You decide to stop charging and make only the minimum payment. Complete the table. (Round your answers to the nearest cent.) Previous Finance Charge Purchases Payments New Balance (+) > Balance Month 1 0 Month 2 4. [-/12.8 Points] DETAILS MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Assume that you start with a balance of $3700 on your credit card. During the first month, you charge $400, and during the second month, you charge $750. Assume that your credit card charges a 27 APR and that each month you make only the minimum payment of 2.5% of the balance Complete the following table. Round your answers to the nearest cent.) Previous Finance Charge Purchases Payments New Balance ) Balance Month 1 BE Month 2
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