Thomas has a new credit card with an APR of 10.99% and a credit limit of $1600.

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Thomas has a new credit card with an APR of 10.99% and a credit limit of $1600. The minimum monthly payment is 6.5% of the new balance. If Thomas purchases $400 in hunting supplies at the beginning of the month, what will be Thomas's new balance at the end of the month?

Express your answer rounded to the nearest cent.

Posted Date: May 16, 2024 04:18 PM

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Thomas has a new credit card with an APR of 10.99% and a credit limit of $1600.

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