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You have a credit card with an APR of 20.8%. You begin with a balance of $1100, in response to which you make a payment
You have a credit card with an APR of 20.8%. You begin with a balance of $1100, in response to which you make a payment of $250. The first month you make charges amounting to $550. You make a payment of $250 to reduce the new balance, and the second month you charge $700. Complete the following table. (Round your answers to the nearest cent.)
Previous balance | Payments | Purchases | Finance charge | New balance | |
---|---|---|---|---|---|
Month 1 | $1100 | $ | $ | $ | |
Month 2 | $ | $ | $ | $ |
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