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19 January, 17:29

This table can be used to organize Gigi's credit card balances and payments over 6 months. The annual percentage rate on the credit card is 14%.

Gigi's Credit Card Payments

Month

Balance

Payment

Interest Rate

Interest Charged

1

$650

$300

0.01167

$4.08

2

$354.08

$50

0.01167

3

$307.63

$50

0.01167

4

$260.64

$50

0.01167

5

$213.10

$50

0.01167

6

$165

$50

0.01167

What is the amount of interest charged for the first 6 months?

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Answers (2)
  1. 19 January, 20:16
    0
    The answer Is A: $16.34
  2. 19 January, 21:04
    0
    I just took the test. The answer is $16.34
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