Question

Abraham's credit card has an APR of 13%, calculated on the previous monthly balance, and Abraham makes a payment of $50 every month. His credit card record for the last 7 months is shown in the table below. What were the finance charges in month 2?

Answer 1

Aloha!
The answer to you question: "Abraham's credit card has an APR of 13%, calculated on the previous monthly balance, and Abraham makes a payment of $50 every month. His credit card record for the last 7 months is shown in the table below. What were the finance charges in month 2?"
Would be $0.44

I hope this helps!:)

Adios!:)

Answer 2

$0.44 just had this question on Apex Financial Literacy