Lucy has an unpaid balance of $1200 on her credit card. The credit card company...

90.2K

Verified Solution

Question

Basic Math

image

Lucy has an unpaid balance of $1200 on her credit card. The credit card company requires a minimum payment of 4.5% and charges an annual interest rate of 30%.Calculate Lucy's minimum payment, the amount of interest paid that month, and her unpaid balance.Round each to the nearest cent.The minimum payment is $The amount of interest paid is $The unpaid balance is $

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students