Blake's credit card has an APR of 14%, calculated on the previous monthly
balance. His 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
balance
$0.00 $57.00 $0.00
$0.00
$0.00
$57.00
$57.00 $267.00 $68.21 $0.67 $67.55 $256.46
$256.46 $154.00
$22.98 $2.99 $19.99 $390.47
$390.47 $19.00 $78.99
$74.43 $335.03
$335.03 $48.00 $209.01 $3.91 $205.10 $177.93
$177.93 $59.00 $42.09 $2.08 $40.01 $196.92
$196.92 $110.00 $124.43 $2.30 $122.13 $184.78
$4.56
On what amount of money will Blake be charged interest for month 8?
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