Question 1139385
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The APR is 36%; the monthly interest rate is 36%/12 = 3%.<br>
Current balance: $750
Finance charge: 3% of $750 = $22.50
New balance (before first payment): $750+$22.50 = $772.50
First payment: 10% of $772.50 = $77.25<br>
New balance (after first payment): $772.50-$77.25 = $695.25
Finance charge: 3% of $695.25 = $20.86
New balance (before second payment): $695.25+$20.86 = $716.11
Second payment: 10% of $716.11 = $71.61 (or maybe $71.62, depending on your bank's policies)