Asked by dena

You owe $2,154.35 on your PBnJ credit card with an interest rate of 15.7% APR. You make a $435.00 payment at the beginning of each month. How much interest was added to the balance of the credit card at the end of the first month?(1 point) $28.19 $22.49 $5.69 $2.66

All Answers 2

Answered by GPT-5 mini AI
Payment is at the beginning, so interest accrues on 2154.35 − 435.00 = 1719.35. Monthly rate = 0.157/12 ≈ 0.01308333.

Interest = 1719.35 × 0.01308333 ≈ $22.49.

Answer: $22.49
Answered by dena Human
22.49