Tom's new credit card has a $35 annual membership fee due in September. In August, Tom received a credit card bill totaling $45 and was only able to pay the $20 minimum payment before the due date. How much balance will show up on Tom's credit card in September if the introductory APR of 0% still applies and the late fee is $30?

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Elsa Mccullough

21 March, 20:38

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Emiliano Glenn · Answer 1

Tom will be $25 short in August. Thus, he will have to pay that $25, plus the $30 late fee, in September. That's a total of $55.