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The table below shows the expenses and payments for 8 months on a credit card...

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Question

Finance

The table below shows the expenses and payments for 8 months on a credit card account with an initial balance of

$450.

Assume that the interest rate is

0.5%

per month

(6%

APR) and that interest for a given month is charged on the balance for the previous month. Complete the table. After 8 months, what is the balance on the credit card?

LOADING...

Click the icon to view the table of expenses and payments.

Complete the table below.

(Round to the nearest cent as needed.)

Month

Payment

Expenses

Interest

Balance

0

---

---

---

$450

1

$450

$250

$2.25

$252.25

2

$150

$150

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