Ihave no idea you owe $1,853.42 on a credit card with a limit of $3,000.00 at a rate of 15.5% apr. you pay $400.00 the first 2 months and then $200.00 until the bill is paid off. you pay the bill on the due date each month. 1) complete the table showing the decreasing debt. 2) how much is your last payment? 3) what is the total amount paid by the time you pay off the credit card? 4) what was your debt ratio at the beginning?

The table of decreasing debt can be form by using the interest formula and according to that table the last payment is $138.51, total amount paid is $1938.51 and the debt ratio is 0.62.

Given :

1).

The interest can be find out by using the below formula:

The table showing the decreasing debt is given below:

Balance        Interest        Payment       Closing Balance

$1853.42       $22.39          $400                $1475.81

$1475.81        $17.83           $400                $1093.64

$1093.64       $13.21            $200                $906.85

$906.85        $10.96           $200                $717.81

$717.81           $8.67             $200               $526.48

$526.48         $6.36             $200               $332.84

$332.84         $4.02             $200                $136.86

$136.86          $1.65              $138.51                    --

2). The last payment = $138.51

3). Total Amount Paid = 400 + 400 + 200 + 200 + 200 + 200 + 200 + 138.51

= 2(400) + 5(200) + 138.51

= $1938.51

4).

Debt Ratio = 0.62

For more information, refer the link given below:

link

answer:  

123455421

step-by-step explanation: easy

the answer is:

mean: 6

mad: 2.14