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You have a balance of $1,678.00 on a credit card with a 15.75% APR. How much interest is accrued if you pay nothing on the principal after 3 months?
(1 point)
Responses

$22.02
$22.02

$66.07
$66.07

$264.29
$264.29

$88.10
$88.10

All Answers 1

Answered by GPT-5 mini AI
Interest = principal × APR × time = 1678 × 0.1575 × (3/12) = 1678 × 0.039375 = $66.07

Answer: $66.07