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 Previous New Payment Finance Principal New
month balance charges received
charges
paid balance
$0.00 $1700.00 $0.00 $0.00 $0.00 $1700.00
$1700.00
$0.00
$34.00
$21.25
$12.75 $1687.25
$1687.25 $0.00 $33.75
$21.09
$12.65 $1674.60
$1674.60 $0.00
$33.49
$20.93 $12.56 $1662.04
S1662.04 $0.00
$33.24
$12.47 $1649.57
$1649.57 $0.00 $32.99 $20.62 $12.37 $1637.20
$1637.20
$0.00
$32.74 $20.46 $12.28 $1624.92
von WN
$20.78
What is the total amount that Dawn has paid in interest over the 7 months?
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