Patrice s credit card has an APR of 11 calculated on the previous monthly balance and a minimum payment of 2 starting the month

Question

Patrice s credit card has an APR of 11 calculated on the previous monthly balance and a minimum payment of 2 starting the month after the first purchase Her credit card record for the last 7 months is shown in the table below End of month 3 5 6 7 Previous balance 0 00 3900 00 3057 75 3815 96 3774 62 3733 73 3693 28 New charges 3900 00 30 00 A 208 77 B 40 01 C 455 51 D 246 73 50 00 30 00 50 00 50 00 50 00 Payment received 50 00 78 00 77 16 76 32 575 49 74 67 73 87 Finance charges 30 00 35 75 35 36 34 98 534 60 34 23 33 86 Principal paid 0 00 42 25 41 79 41 34 40 89 40 45 40 01 New balance 3900 00 3857 75 3815 96 3774 62 3733 73 3693 28 3653 27 How much of the 3900 charge that Patrice made during the first month has been paid off

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