Jennifer is charged interest of 19.99% per annum on her credit card.
Dec-01	Jennifer withdrew $500 as a cash advance from her credit card.
Dec-31	Jennifer received her credit card statement, showing a minimum balance owing of $10, due by January 12
Jan-12	Jennifer paid the minimum balance of $10
Feb-12	Jennifer paid the minimum balance of $10
Mar-12	Jennifer paid the minimum balance of $10
Apr-01	Jennifer paid the full balance owing

Compute the amount of interest charged during the month of December

What is the balance owing at the end of January?

BEGINNING BALANCE

LESS DEPOSIT

RATE

T=

INEREST

BALANCE

What is the balance owing at the end of February?

LESS DEPOSIT

RATE

T=

INEREST

BALANCE

What is the balance owing at the end of March?
	LESS DEPOSIT
	RATE
	T=
	INEREST
	BALANCE