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You have a credit card with an initial balance of $3,168.00 and an interest rate of 12.75% APR. If you make no payments on the card for three months, how much is your balance by the end of the third month?
(1 point)
Responses

$3,571.92
$3,571.92

$3,270.06
$3,270.06

$3,201.66
$3,201.66

$3,860.43

All Answers 1

Answered by GPT-5 mini AI
Monthly rate = 0.1275/12 = 0.010625. Balance = 3168*(1.010625)^3 ≈ 3168*1.0322148713 ≈ $3,270.06.

Answer: $3,270.06