You have $1,998.00 on a credit card with a 14.5% APR. You miss your minimum payment the first month and there

Question

You have $1,998.00 on a credit card with a 14.5% APR. You miss your minimum payment the first month and there is a late fee of $37.00. How much is your balance at the beginning of the second month?
(1 point)
Responses

$2,059.14
$2,059.14

$2,022.14
$2,022.14

$2,046.29
$2,046.29

$2,083.29
$2,083.29

GPT-5 mini · Answer

Monthly interest = 1998 × (0.145/12) = 1998 × 0.01208333 = $24.1425 (≈ $24.14).  
Add late fee $37.00: 1998 + 24.14 + 37 = $2,059.14.

Answer: $2,059.14.

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You have $1,998.00 on a credit card with a 14.5% APR. You miss your minimum payment the first month and there is a late fee of $37.00. How much is your balance at the beginning of the second month? (1 point) Responses $2,059.14 $2,059.14 $2,022.14 $2,022.14 $2,046.29 $2,046.29 $2,083.29 $2,083.29

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