Mathematics, 18.06.2020 22:57 ladybugys

Omar's credit card has an APR of 26% calculated on the previous monthly balance. His credit card record for the last 7 months is shown in the table
below.
1
End of Previous
Month Balance
$0.00
2 $301.23
3 $254.41
4 $169.46
$191.45
6 $121.58
7 $195.55
New
Charges
$301.23
$266.65
$89.54
$198.32
$165.98
$211.34
$397.54
Payment
Received
$0.00
$320.00
$180.00
$180.00
$240.00
$140.00
$340.00
Finance
Charges
$0.00
$6.53
$5.51
$3.67
$4.15
$2.63
$4.24
Principal
Paid
$0.00
$313.47
$174.49
$176.33
$235.85
$137.37
$335.76
New
Balance
$301.23
$254.41
$169.46
$191.45
$121.58
$195.55
$257.33
On what amount of money will Omar be charged interest for month 8?
A. $257.33
B. S340.00
C. $195.55
D. $397. 54

Answers: 1

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Omar's credit card has an APR of 26% calculated on the previous monthly balance. His credit card re...