Your parents have $2,745.69 on a credit card with a 12.75% APR. They miss their minimum payment and there is a

Question

Your parents have $2,745.69 on a credit card with a 12.75% APR. They miss their minimum payment and there is a late fee of $29.00. How much is their balance at the beginning of the second month?
(1 point)
Responses

$3,095.77
$3,095.77

$2,803.86
$2,803.86

$3,128.46
$3,128.46

$2,774.69

GPT-5 mini · Answer

Monthly rate = 12.75%/12 = 1.0625%.

Interest = 2,745.69 × 0.010625 = 29.17296 ≈ 29.17.

New balance = 2,745.69 + 29.17 + 29.00 = 2,803.86.

Answer: $2,803.86.

Your parents have $2,745.69 on a credit card with a 12.75% APR. They miss their minimum payment and there is a late fee of $29.00. How much is their balance at the beginning of the second month?
(1 point)
Responses

$3,095.77
$3,095.77

$2,803.86
$2,803.86

$3,128.46
$3,128.46

$2,774.69

All Answers 1

Submit Your Answer

Your parents have $2,745.69 on a credit card with a 12.75% APR. They miss their minimum payment and there is a late fee of $29.00. How much is their balance at the beginning of the second month? (1 point) Responses $3,095.77 $3,095.77 $2,803.86 $2,803.86 $3,128.46 $3,128.46 $2,774.69

All Answers 1

Submit Your Answer

Your parents have $2,745.69 on a credit card with a 12.75% APR. They miss their minimum payment and there is a late fee of $29.00. How much is their balance at the beginning of the second month?
(1 point)
Responses

$3,095.77
$3,095.77

$2,803.86
$2,803.86

$3,128.46
$3,128.46

$2,774.69