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

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?

Answer 1

$2.54