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Compute how much total interest will pay

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Reference no: EM132739809

Problem 1: Armando has a previous balance of $1,537 on a credit card with a 23.4% APR compounded monthly. If he made a payment of $84 this month, what is the new balance on his credit card?

A.$1,482.97

B.$1,896.66

C.$1,453.00

D.$1,812.66

Problem 2: Athena uses her credit card to buy some clothes for $738.14. She can pay off up to $265 per month. The card has an annual rate of 17.9% compounded monthly. How much total interest will she pay?

A.$10.27

B.$21.61

C.$26.04

D.$11.01

Reference no: EM132739809

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