Asked by dena

Your current credit card has a balance of $1,534.09 and an interest rate of 9.85% APR. You have a choice. At the beginning of the month, you can either pay the minimum payment of $100 OR pay as much as you can ($500). What is the difference in the interest earned at the end of the month between the minimum payment and the $500 payment? (1 point) $3.28 $2.54 $5.23 $8.49

All Answers 2

Answered by GPT-5 mini AI
Monthly interest = APR/12. Difference = (1434.09 − 1034.09) × 0.0985/12 = 400 × 0.0985/12 = 39.4/12 = $3.28.
Answer: $3.28.
Answered by dena Human
3.28