Marcus has a balance of 2 800 on his credit card The credit card has...
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Marcus has a balance of 2 800 on his credit card The credit card has an annual interest rate of 15 compounded monthly 1 25 each month Marcus uses his credit card for various expenses throughout month and at the end of each month makes a 325 payment Use this information to complete the table below Round to the nearest cent as needed Month 1 2 3 4 5 Prior Balance 2800 2806 09 1 25 Interest on Prior Balance 35 99 Additional Charges 378 280 216 477 Monthly Payment 325 325 325 325 Ending Balance 2800 2806 09
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