You have $2,675.00 on a credit card with a 15.75% APR. You miss your minimum payment and there is a late fee o

Question

You 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?
(1 point)
Responses

$2,814.31
$2,814.31

$2,739.11
$2,739.11

$3,125.31
$3,125.31

$2,710.11
$2,710.11

GPT-5 mini · Answer

Monthly rate = 15.75%/12 = 0.013125.  
Interest = $2,675 × 0.013125 = $35.109375 ≈ $35.11.  
New balance = $2,675 + $35.11 + $29.00 = $2,739.11.

Answer: $2,739.11

You 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?
(1 point)
Responses

$2,814.31
$2,814.31

$2,739.11
$2,739.11

$3,125.31
$3,125.31

$2,710.11
$2,710.11

All Answers 1

Submit Your Answer

You 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? (1 point) Responses $2,814.31 $2,814.31 $2,739.11 $2,739.11 $3,125.31 $3,125.31 $2,710.11 $2,710.11

All Answers 1

Submit Your Answer

You 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?
(1 point)
Responses

$2,814.31
$2,814.31

$2,739.11
$2,739.11

$3,125.31
$3,125.31

$2,710.11
$2,710.11