Business, 03.03.2020 19:26 karmaxnagisa20

2 Points
Guadalupe's credit card has an APR of 23%, calculated on the previous
monthly balance, and a minimum payment of 2%, starting the month after the
first purchase. His credit card record for the last 7 months is shown in the
table below.
End of Previous New Payment Finance Principal New
month balance charges
received charges paid balance
$0.00 $900.00 SO 00 $0.00 $0.00 $900 00
$900.00 $0.00 $18.00 $17 25 $0.75 $899 25
$899.25 $0.00 $17 99 $17 24 $0.75 $898.50
$898.50 $0.00 $17.97 $17.22 $0.75 $897.75
$897.75 $0.00 $1796 $17 21 $0.75 $897 00
$897.00 $0.00 $17.94 $17.19
$0.75
$896.26
$896.26 $0.00 $17.93 $17.18 $0.75 $895.51
OWN
About what percentage of Guadalupe's payments so far have gone to paying
interest?
A. 26%

Answers: 2

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Guadalupe's credit card has an APR of 23%, calculated on the previous
monthly b...

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