Question

*help please* Gaudalupe's credit card has an APR of 23%, calculated on the previous monthly balance and a minimum payment of 2%, starting the month at the first purchase. Her credit card record for the last 7 months is shown in the table below, How is the new interest calculated?

Any help is appreciated :)
A. Previous balance + new charges - principal paid

B. Previous balance + new charges + principal paid

C. Previous balance - new charges+ principal paid

D. Previous balance - new charges - principal paid

Answer 1

A, previous balance + new charges - principal paid

Explanation:

I took the test and it was A