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The following table shows the expenses and payments for 2 months on a credit card account with an initial balance of $618. Assume that the
The following table shows the expenses and payments for 2 months on a credit card account with an initial balance of $618. Assume that the interest rate is 1% per month (12% APR) and that the interest for a given month is charged on the balance from the previous month. For each question, round to the nearest penny and don't use commas or dollar signs.
Month | Payment | Expenses | Interest | Balance |
0 | - | - | - | $618 |
1 | $190 | $183 | ||
2 | $81 | $139 |
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