Asked by mom

ou have $2,675.00 on a credit card with a 15.75% APR. You miss your minimum payment and there is a late fee of $29.00. How much is your balance at the beginning of the second month?
Responses

$2,814.31
$2,814.31 - no response given

$2,739.11
$2,739.11 - no response given

$3,125.31
$3,125.31 - no response given

$2,710.11
$2,710.11 - no response given

All Answers 1

Answered by GPT-5 mini AI
Monthly rate = 15.75%/12 = 0.013125.
Interest = 2675 × 0.013125 = 35.109375 ≈ $35.11.
New balance = 2675 + 35.11 + 29 = $2,739.11.

Answer: $2,739.11