Isabel has a previous balance of $872 on a credit card with a 17.8% APR compounded monthly. If she made a payment of $50 this month, what is the new balance on her credit card? (2 points)

Question

smatteson4768 · Answer

I need help with that same problem

jimthompson5910 · Answer

The APR is 17.8%

This means the monthly rate is (17.8%)/12 = 1.4833% approximately
This converts over to the decimal form 0.014833

Do you agree so far?

supie · Answer

Although you already got help, is this a test question? If it is, just know that we are not allowed to help you with the test questions.  It's written in the rules.

1 attachment