Score: 0 of 1 pt 22 of 25 (24 complete) HW Score: 86 8%, 217 of 25 pts 9.5.4 Que

Question

Score: 0 of 1 pt 22 of 25 (24 complete) HW Score: 86 8%, 217 of 25 pts 9.5.4 Question Help The table below shows the expenses and payments for 8 months on a credit card account with an inital balance of S200 Assume hat he nterest rate is 10 % per month 12% APR) and that interest tor a given month is charged on the balance for the pre ous month. Complete the table Aner 8 months, what ne balance on tho credit card? EE Cick the icon to view the table of expenses and payments Complete the table below (Round to the nearest cent as needed) Table of expenses and payments Month Payment Expenses Interest Balance $200 1 $200 $175 200 17700 2 $250 $250 Month Payment Expenses Interest Balance 1 $175 |10%x320d 17700 $200 1 $200 - $2.00 orrect 1 s250 s250 $370 5350 $500 $450 $80 $90 7 $175 $150 $80 $90 8S90 Print Done Enter your answer in the edit fields and then click Check Ansvw

Explanation / Answer

Answer:-

Month Payment $ Expenses $ Interest $ Balance $ 0 0 0 0 200 1 200 175 1.0%*200= $2.00 =200-200+175+2=177 2 250 250 1.0%*177 = 1.77 =177-250+250+1.77=178.77 3 370 350 1.0%*178.77=1.79 =178.77-370+350+1.79=160.56 4 500 450 1.0%*160.56= 1.61 =160.56-500+450+1.61= 112.17 5 0 80 1.0%*112.17= 1.12 =112.17-0+80+1.12= 193.29 6 90 90 1.0%*193.29= 1.93 =193.29-90+90+1.93 = 195.22 7 175 150 1.0%*195.22= 1.95 =195.22-175+150+1.95= 172.17 8 90 80 1.0%*172.17 = 1.72 = 172.17-90+80+1.72 = 163.89

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