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Assume that you start with a balance of $570 on your credit card. During the first month, you charge $180 and make a payment of
Assume that you start with a balance of $570 on your credit card. During the first month, you charge $180 and make a payment of $450. During the second month, you charge $90 and make a payment of $300. Assume that your credit card charges a 16% APR. Complete the following table. (Round your answers to the nearest cent.)
Previous Balance | Finance Charge (+) | Purchases (+) | Payments (-) | New Balance | |
---|---|---|---|---|---|
Month 1 | |||||
Month 2 |
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