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Question 13 B0/1 pt 399 Details Marcus has a balance of $2,900 on his credit card. The credit card has an annual interest rate of
Question 13 B0/1 pt 399 Details Marcus has a balance of $2,900 on his credit card. The credit card has an annual interest rate of 15%, compounded monthly (1.25% each month). Marcus uses his credit card for various expenses throughout month and, at the end of each month, makes a $250 payment. Use this information to complete the table below. Round to the nearest cent as needed. Month Prior Balance 1.25% Interest on Prior Balance Additional Charges Monthly Payment Ending Balance 1 $2900 2 $2900 S $281 $250 3 $221 $250 $ 4 $37.19 $406 $250 $3168.53 5 $3168.53 $ $394 $250 $ Question Help: Video Message instructor Submit
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