Mathematics

Jessie Stanton

16 November, 10:46

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?