Dudley's crodit card has an APR of 20.7%, caloulated on the proviouo monthly balance, and a minimum
payment of 2%, starting the month after the first purchase. His credit card record for the last 7 months le
shown in the table below.
End of
Month
line
Provious
Balance
50.00
$6300.00
$6282.68
$6265.40
36248.17
36230.99
36213.85
New
Chorges
$6300.00
30.00
$0.00
$0.00
$0.00
$0.00
30.00
Payment
Rocolved
$0.00
$126.00
3126.65
3126.31
$124.96
324.62
75122.28T
Finance
Charges
$0.00
$108.68
3108.38
3108.08
35107.78
310748
510719
Principal Now
Pald Balance
$0.00
56300.00
317.33 $6202.68
317.28 $626540
317.23 $6248.17
317.1836230.99
317.14 5 6213,85
317.09
What is the total
amount that Dudloy
has pald In Interest
over the 7 months?
What is the total
amount that Dudley
has made in
payments over the 7
months?
How much of the
$0300 charge that
Dudley made during
the first month has
been paid off?
What is Dudley's new balance at the
end of month 7?
What will Dudley's payment be in
month 8?