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Stels [109]
3 years ago
9

Benjamin's credit card has an APR of 19%, calculated on the previous monthly balance, and a minimum payment of 2%, starting the

month after the first purchase. His credit card record for the last 7 months is shown in the tablebelow.
End of Previous
Payment Finance Principal New
month balance charges received charges
balance
$0.00 $2400.00 $0.00 $0.00 $0.00 $2400.00
$2400.00 $0.00
$48.00
$38.00 $10.00 $2390.00
$2390.00 $0.00 $47.80 $37.84 $9.96 $2380.04
$2380.04 $0.00 $47.60
$37.68
$2370.12
$2370.12
$0.00
$47.40 $37.53
$2360.25
$2360.25 $0.00 $47 20 $3737 $9.83 $2350.41
$2350.41 $0.00 $47.01 $37 21 $9.79 $2340.62
pald
VOON
$9.92
$9.88
What is the total amount that Benjamin has made in payments over the 7
months?
Mathematics
1 answer:
Anastaziya [24]3 years ago
3 0

Answer:

2390.00

Step-by-step explanation:

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Answer:

p = 11.2

Step-by-step explanation:

The computation is shown below:

Data provided in the question

2.6(5.5p – 12.4) = 127.92

Now

Distributive Propertyis

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Addition Property is

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Division Property is

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p = 11.2

We simply find the value of p by applying the distributive property, addition property, and the division property and the same is to be considered

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