Round to the nearest penny. You owe $2,348.62 on a credit card with an 8.75% APR. You pay $300.00 toward the c

Question

Round to the nearest penny.

You owe $2,348.62 on a credit card with an 8.75% APR. You pay $300.00 toward the card at the beginning of the month. What is the difference in interest accrued compared with if you had paid an additional $300.00 more than you had originally intended toward the card?

GPT-5 mini · Answer

Monthly rate = 8.75%/12 = 0.0875/12 = 0.0072916667.

Interest difference = $300 × 0.0072916667 = $2.1875 ≈ $2.19.

So you would accrue $2.19 less interest that month.

Round to the nearest penny.

You owe $2,348.62 on a credit card with an 8.75% APR. You pay $300.00 toward the card at the beginning of the month. What is the difference in interest accrued compared with if you had paid an additional $300.00 more than you had originally intended toward the card?

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Round to the nearest penny. You owe $2,348.62 on a credit card with an 8.75% APR. You pay $300.00 toward the card at the beginning of the month. What is the difference in interest accrued compared with if you had paid an additional $300.00 more than you had originally intended toward the card?

All Answers 1

Submit Your Answer

Round to the nearest penny.

You owe $2,348.62 on a credit card with an 8.75% APR. You pay $300.00 toward the card at the beginning of the month. What is the difference in interest accrued compared with if you had paid an additional $300.00 more than you had originally intended toward the card?