You owe $1,455.69 on a credit card at a 12.8% APR. You pay 15 days after the due date and the late fee is $35.00, making it 45 days of accrued interest. You pay $250.00. How much is your balance after the payment?

Given:

$1,455.69 - owe

12.8% - APR

$35.00 - - late fee

$250.00 - - amount paid

Work it out by:

12.8% of 1,445 is

1455 x 0.128 = $186.24

So,

$1,455 + $35 late fee + $186.24 interest = $1, 676.24 - $ 250 = $1, 426.24

Balance: $1, 426.24