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 table
below.
"End of
month
2
3
4
5
6
7
Previous
balance
3000
52400 00
$2990 00
52380 04
52370 12
$2360 25
52350 41
New
charges
5240000
50 00
50 00
5000
50.00
50.00
50 00
Payment
received
3000
548.00
547 80
$47 60
547.40
547 20
54701
Finance
charges
3000
$38.00
337 54
307.60
33750
$3737
337 21
Principal
paid
30 00
$10.00
59.96
5992
59.80
59 80
59.79
New
balance
5240000
52090 00
12380 04
52370 12
5230 25
52350 41
5230 62
What is the total amount that Benjamin has made in payments over the 7
months?
O A. $59.38
O B. $225.64
O C. $285.01
O D. $47.01