Jeremiah's credit card has an APR of 22% calculated on the previous monthly balance. His credit card record for the last 7 months is shown in the table
below.
End of Previous
Month Balance
$0.00
2 $255.87
3 $297.39
4 $319.80
5 $318.72
6 $531.98
7 $460.64
New
Charges
$255.87
$156.83
$96.96
$133.05
$267.42
$78.91
$301.48
Payment
Received
$0.00
$120.00
$80.00
$140.00
$60.00
$160.00
$220.00
Finance
Charges
$0.00
$4.69
$5.45
$5.86
$5.84
$9.75
$8.45
Principal
Paid
$0.00
$115.31
$74.55
$134.14
$54.16
$150.25
$211.55
New
Balance
$255.87
$297.39
$319.80
$318.72
$531.98
$460.64
$550.57
On what amount of money will Jeremiah be charged interest for month 8?
A. $301.48
B. $220.00