Question

For questions 3 and 4, you will be answering by filling in the blanks.

Round to the nearest penny.

You owe $1,032.56 on a credit card with an 11.25% APR. The minimum due is $150.00. What is the difference in the interest accrued if you pay the minimum amount due at the beginning of the month versus at the end of the month?

Answer 1

If you pay the minimum amount due at the beginning of the month, the interest accrued is $___0.00___.
If you pay the minimum amount due at the end of the month, the interest accrued is $___9.66___.

The difference in interest accrued is $___9.66___.