SOLUTION: Hi I hate to bother you all again but this question is really making me stuck. I understand how to come up with minimum payments and finance charges after you decide to stop chargi
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Distributive-associative-commutative-properties
-> SOLUTION: Hi I hate to bother you all again but this question is really making me stuck. I understand how to come up with minimum payments and finance charges after you decide to stop chargi
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Question 1139390: Hi I hate to bother you all again but this question is really making me stuck. I understand how to come up with minimum payments and finance charges after you decide to stop charging but what about if new charges have been made?
Assume that you start with a balance of $5000 on your MasterCard. Assume that MasterCard has finance charges of 16% APR and that each month you make only the minimum payment of 3% of the balance. During the first month, you charge $350, and during the second month, you charge $500. Complete the following table. (Round your answers to the nearest cent.)
Month 1---Previous Balance Min Payment Purchases Finance charges New Balance
______________ ___________ _________ ______________ ___________
Month 2--- ______________ ___________ _________ ______________ ___________ Answer by MathLover1(20849) (Show Source):
