You have a $2,300 balance on your 15% credit card. You have lost your job...
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Accounting
You have a $2,300 balance on your 15% credit card. You have lost your job and been unemployed for 6 months. You have been unable to make any payments on your balance. However, you received a tax refund and want to pay off the credit card. a. How much will you owe on the credit card if you have not made a payment for 6 months? (Round your answers to the nearest cent.) b. How much interest will have accrued? (Round your answer to the nearest cent.) c. What will be the effective rate of interest after the 6 months? (Round your answer to the nearest hundredth percent.)
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