Question: You have a $ 2 , 1 5 0 balance on your 1 5 % credit card. You have lost your job and been unemployed
You have a $ balance on your credit card. You have lost your job and been unemployed for months. You have been unable
to make any payments on your balance. However, you received a tax refund and want to pay off the credit card.
a How much will you owe on the credit card if you have not made a payment for months?
Note: Round your answers to the nearest cent.
b How much interest will have accrued?
Note: Round your answer to the nearest cent.
A Amount owed month months months months months months B How much interest will have accrued? Note: Round your answer to the nearest hundredth percent. C What will be the effective rate of interest after the months?
Note: Round your answer to the nearest hundredth percent.
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