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
Finance
New
charges
charges
3170000
2
3
4
5
6
7
Previous
balance
SO 00
$1700 00
$1687 25
$1674.60
$166204
$1649 57
$163720
50 00
5000
50.00
$0.00
50 00
SO 00
Payment
received
50.00
534 00
$33.75
533 49
533 24
$32.99
$32.74
50.00
S2125
521 09
$20.93
$20.78
$20 62
520 46
Principal
paid
50.00
512 75
$1265
$12.56
$12.47
$1237
$12 28
Now
balance
51700.00
S1687 25
51674 60
$166204
$1649.57
51637 20
51624 92
What is the total amount that Dawn has paid in interest over the 7 months?