2points
dawn's credit card has an apr of 15%, calculated on the previous monthly
balance, and a minimum payment of 2%, starting the month after the first
purchase. her credit card record for the last 7 months is shown in the table
below.
end of
month
previous
balance
s0.00
$1700.00
$1687.25
$1674.60
$1662.04
$1649.57
$1637 20
new
charges
$1700.00
$0.00
$0.00
$0.00
50.00
$0.00
payment
received
$0.00
$34.00
$33.75
$33.49
$33.24
$32.99
finance
charges
50.00
521 25
$21.09
$20.93
$20.78
$20 62
$20.46
principal
paid
50.00
$12.75
$12.65
$12.56
$12.47
$12.37
$1228
new
balance
$1700.00
$1687 25
$1674.60
$1662.04
$1649.57
$163720
s1624.92
$0.00
what is the total amount that dawn has paid in interest over the 7 months?
o a. $200.21
b. $75.08

answer is 125.13