Kimberly's crodit card has an APR of 28.6%, calculated on the provious monthly balance. Her credit card
record for the last 7 months is shown in the table below.
End of
Month
7
Payment
Received
$0.00
544.77
:
Previous
Balance
$0.00
5476.00
$620.67
3370.18
$341.94
$496.24
$336.63
OWN-
New
Chargos
$476.00
5 178.00
5 67.00
.393.00
$231.00
5 48.00
$335.00
$33219
Finance Principal New
Charges Pald i Balance
$0.00 $0.00 $476.00
$1134 $33.23.
5620.57
$14.79 - $317.40 $370.18
$8.82 $121.24 $341.94 ***
$8.15 . ** $76.70 $496.24
$11.83" *
5207.60
$336.63
$8.02 3 480.50
3130.06
$84.85
$219.43
3488.62 *
What is the total
amount that
Kimberly has paid in
interest over the 7
months?
What is the total
amount that
Kimberly has made
in payments over the
7 months?
How much of
Kimberly's payments
has gone to paying
down the principal
on her account?
10.
What Is Kimberly's new balance at
the end of month 7?
What will Kimberly's Interest be in
month 8?