You have a balance of $500 on a credit card with a monthly interest rate of 2%. You make a payment of $15 when you receive your credit card bill. What is the new balance after the payment?(1 point) Responses $495 $495 $475 $475 $505 $505 $525

Answer 1

The new balance after the payment of $15 is $485.

$500 - $15 = $485

Therefore, the correct response is $485.