Computing annual interest rate compounded monthly

Reference no: EM1333719

Jack has a balance of $1276.53 on a credit card with an annual percentage rate of 15.2%. The minimum payment required on the current statement is $26. Find the amount applied to reduce the principal in this statement. Show work.

Reference no: EM1333719

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Computing annual interest rate compounded monthly : Jack has a balance of $1276.53 on a credit card with an annual percentage rate of 15.2%. Find out the amount applied to reduce the principal in this statement. Show work.

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