12.6 because it has to be the same as ED
Credit card balance each month:
First month: 1020 .00
Second month: 1040.4 0
Third month: 1061,208
Fourth month: 1082.43
Here we have to calculate the interest and add it to capital.
That is, 2% of 1000
First month:
Interest = 1000 (2/100)
Odds1 = 1020
Second month
Capital 1020
Interest = 1020 x 0.02 = 20.4
Odds2 = 1040.4
Third month
Capital = 1040.4
Interest = 1040.4 x 0.02 = 20.808
Odds3 = 1061,208
Fourth month
Capital = 1061,208
Interest = 1061.208 x 0.02 = 21.22
Odds = 1082.43
Therefore the credit card balance each month:
First month: 1020 .00
Second month: 1040.4 0
Third month: 1061,208
Fourth month: 1082.43
Learn more about credit card balance here: brainly.com/question/17604713
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The question is incomplete. Completed question is given below:
A person owes $1000 on a credit card that charges an interest rate of 2% per month. Complete this table showing the credit card balance each month if they do not make any payments. Month total bill in dollars11,00021,02031,040.40
Below are the choices that can be found elsewhere:
<span>a. $1,158.33
b. $1,069.23
c. $2,316.66
d. $1,539.22
</span>
Below is the solution:
$27,800 / 12 months = 2,316
$2,316 / 2 since it bi-monthly = $1,158.33
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