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The conditions of a credit card are as follows: annual interest rate of 58.8%, minimum payment of 8.5% and previous balance method (previous balance). Regina
The conditions of a credit card are as follows: annual interest rate of 58.8%, minimum payment of 8.5% and previous balance method (previous balance). Regina George has this type of credit card. At the beginning of the month, he had a balance of $ 56,250. She made a credit card payment on the 15th for $ 12,000 and made a purchase on the 22nd for $ 7,000.
Calculate:
1. What were your finance charges for the month? (answer in money, do not put the $ sign, 2 decimal places)
2. Ignoring the payment made this month and assuming that you only paid the minimum each month, how long would it take you to pay your total debt? (answer in number of months, whole number, without decimals)
3. How much money would you pay in total if you paid this way? (answer in money, do not put the sign $, 2 decimal places)
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