Question

Dawn's credit card has an APR of 15%, calculated on the previous monthly

balance, and a minimum payment of 2%, starting the month after the first
purchase. Her credit card record for the last 7 months is shown in the table
below.
End of
month
New
charges
Payment Finance Principal
received charges paid
New
balance
Previous
balance
50.00
$1700.00
1
$1700.00
$0.00
$0.00
$0.00
$1700.00
$0.00
$34.00
$21.25
$12.75
$1687.25
3
$1687.25
$0.00
$33.75
$21.09
$12.65
$1674.60
4
$1674.60
$0.00
$33.49
$20.93
$12.56
$1662.04
5
$1662.04
$0.00
$33.24
$20.78
$12.47
$1649.57
6
$1649.57
$0.00
$32.99
$20.62
$12.37
$1637.20
7
$1637.20
$0.00
$32.74
$20.46
$12.28
$1624.92
How much of the initial purchase has Dawn paid off over the 7 months?
OA. $75.08
OB. $20.46
OC. $125.13
OD. $200.21
2

Answer 1

$200.20

Step-by-step explanation:

Dawn spend a lot of money