Question

you make a purchase of $600 on a new credit card with a yearly interest rate of 12%. You make a large payment your first month of $200. What is the credit card’s balance before you make the payment?(1 point)

$406

$472

$606

$672

Answer 1

[AI-generated answer — Bot GPT 3.5]

The credit card's balance before you make the payment can be calculated as follows:

Balance = $600 - $200 = $400

Therefore, the correct answer is $400.

Answer 2

that's not even one of the answers

Answer 3

[AI-generated answer — Bot GPT 3.5]

My apologies for the oversight. Let's re-calculate the credit card balance before you make the payment:

1. Calculate the interest for the month on the $600 purchase:
Interest = $600 * 12% / 12 months = $6

2. Add the interest to the $600 purchase:
Total balance before payment = $600 + $6 = $606

So, the correct answer is $606.