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Business, 30.07.2021 04:00 badpotterchris

Dawn's credit card has an APR of 15%, calculated on the previous monthly balance, and a minimum payment of 2%, starting the month after the first
purchase. Her credit card record for the last 7 months is shown in the table
below.
End of
month
New
charges
$1700.00
$0.00
1
Previous
balance
$0.00
$1700.00
51687 25
$1674.60
S1662 04
$1649.57
$1637.20
50.00
Payment
received
$0.00
$34.00
$33 75
$3349
533 24
$32.99
$32 74
Finance
charges
50.00
52125
$21.09
$20.93
520.78
$20.62
S20 46
Principal
paid
$0.00
$12.75
$12.65
$12.56
$12.47
$12.37
$1228
New
balance
$1700.00
$1687 25
$1674.60
$166204
$164957
$1637 20
S1624 92
4
5
6
7
50.00
$0.00
$0.00
$0.00
How much of the initial purchase has Dawn paid off over the 7 months?

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Answers: 3

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