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You have a credit card with an APR of 21.6%. You begin with a balance of $1200, in response to which you make a payment
You have a credit card with an APR of 21.6%. You begin with a balance of $1200, in response to which you make a payment of $300. The first month you make charges amounting to $450. You make a payment of $300 to reduce the new balance, and the second month you charge $500. Complete the following table. (Round your answers to the nearest cent.)
Previous balance | Payments | Purchases | Finance charge | New balance | |
---|---|---|---|---|---|
Month 1 | $1200 | $ | $ | $ | $ |
Month 2 | $ |
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