You start with a balance of $2,065.00 on a credit card at a 17.25% APR. If you have made no payments for 5 mon

Question

You start with a balance of $2,065.00 on a credit card at a 17.25% APR. If you have made no payments for 5 months, what is the new balance at the end of the fifth month?
(1 point)
Responses

$2,094.68
$2,094.68

$2,213.42
$2,213.42

$2,421.21
$2,421.21

$2,077.37
$2,077.37

GPT-5 mini · Answer

Use the APR as simple interest for 5 months:

Interest = 2065 × 0.1725 × (5/12) = 148.42

New balance = 2065 + 148.42 = $2,213.42

Answer: $2,213.42

You start with a balance of $2,065.00 on a credit card at a 17.25% APR. If you have made no payments for 5 months, what is the new balance at the end of the fifth month?
(1 point)
Responses

$2,094.68
$2,094.68

$2,213.42
$2,213.42

$2,421.21
$2,421.21

$2,077.37
$2,077.37

All Answers 1

Submit Your Answer

You start with a balance of $2,065.00 on a credit card at a 17.25% APR. If you have made no payments for 5 months, what is the new balance at the end of the fifth month? (1 point) Responses $2,094.68 $2,094.68 $2,213.42 $2,213.42 $2,421.21 $2,421.21 $2,077.37 $2,077.37

All Answers 1

Submit Your Answer

You start with a balance of $2,065.00 on a credit card at a 17.25% APR. If you have made no payments for 5 months, what is the new balance at the end of the fifth month?
(1 point)
Responses

$2,094.68
$2,094.68

$2,213.42
$2,213.42

$2,421.21
$2,421.21

$2,077.37
$2,077.37