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The question is asking what my balance on the credit card will be after 8 months but I don't know how to fill out the
The question is asking what my balance on the credit card will be after 8 months but I don't know how to fill out the chart.
The table below shows the expenses and payments for 8 months on a credit card account with an initial balance of $400. Assume that the interest rate is 1.5% per month (18% APR) and that interest for a given month is charged on the balance for the previous month. Complete the table. After 8 months, what is the balance on the credit card? Click the icon to view the table of expenses and payments. Complete the table below. (Round to the nearest cent as needed.) Month Payment Expenses Interest Balance 0 $400 1 $400 $150 $6.00 $156.00 2 $175 $175 3 $380 $370 4 $400 $350 5 $0 $110 6 $90 $100 7 $225 $125 8 $80 $60 After 8 months, what is the balance on the credit card? (Round to the nearest cent as needed.) Step by Step Solution
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