Business, 18.03.2021 01:00 beccca16

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 Previous
New Payment Finance Principal
New
month balance
charges
received charges paid balance
1
$0.00 $1700.00 $0.00
$0.00
$0.00 $1700.00
2 $1700.00 $0.00
$34.00 $21.25 $12.75 $1687.25
3 $1687.25 $0.00
$33.75
$21.09 $12.65 $1674.60
4
$1674.60 $0.00 $33.49 $20.93 $12.56 $1662.04
5 $1662.04 $0.00
$33 24 $20.78 $12.47 $1649 57
$1649.57 $0.00 $32.99 $20.62 $12.37 $1637 20
17 S1637.20 $0.00 $32.74 $20.46 $12.28 $1624.92
0) OWN
What is the total amount that Dawn has paid in interest over the 7 months?

Answers: 2

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Dawn's credit card has an APR of 15%, calculated on the previous monthly balance, and a minimum pay...