Gabriella's credit card has an APR of 24% calculated on the previous monthly
balance. Her credit card record for the last 7 months is shown in the table
below.
1
End of Previous
Month Balance
$0.00
2 $351.22
3 $516.12
4
$539.43
5 $458.86
6 $529.32
7 $513.38
New
Charges
$351.22
$297.88
$72.98
$188.64
$281.29
$93.47
$344.78
Payment
Received
$0.00
$140.00
$60.00
$280.00
$220.00
$120.00
$380.00
Finance
Charges
$0.00
$7.02
$10.32
$10.79
$9.18
$10.59
$10.27
Principal
Paid
$0.00
$132.98
$49.68
$269.21
$210.82
$109.41
$369.73
New
Balance
$351.22
$516.12
$539.43
$458.86
$529.32
$513.38
$488.43
On what amount of money will Gabriella be charged interest for month 8?
O A. $344.78
O B. $513.38
O C. $380.00
O D. $488.43
