Credit Card Balance and Interest

What is the unpaid balance if your current credit card balance is $500.00 and your minimum payment is $25.00?

• $500.00

• $525.00

• $450.00

• $475.00

What is your unpaid credit card balance if your current balance is $143.00 and your minimum payment is $17.00?

• $126.00

• $136.00

• $160.00

• $143.00

What is your new credit card balance if your unpaid balance is $250.00 with a monthly interest rate of 3%?

• $247.00

• $257.50

• $242.50

• $312.00

What is your new credit card balance if your unpaid balance is $1,429.00 with a monthly interest rate of 5%?

• $1,512.60

• $1,500.45

• $1,483.45

• $0

What is your new credit card balance if your unpaid balance is $825.00 with a monthly interest rate of 1%?

• $843.64

• $828.50

• $833.25

• $856.75

Your current balance is $52.70. If you make the minimum payment of $2.64 with a monthly interest rate of 1.8%, what is your new credit card balance?

• $48.74

• $53.83

• $50.46

• $50.96

Your current credit card balance is $672.77. If you make the minimum payment of $34.50 with a monthly interest rate of 3.5%, what is your new credit card balance?

• $660.61

• $682.98

• $641.52

• $714.74

Your current credit card balance is $1,109.00. If you make the minimum payment of $17.00 and have a monthly interest rate of 6%, what is your new credit card balance?

• $1,389.50

• $960.71

• $1,157.52

• $1,003.60

Is there any interest applied to your credit card balance if you pay off your credit card balance each month?

• Yes

• No

Why do credit card companies give the option to make minimum payments on your monthly credit card bill?

• They are just good people.

• So they can then apply interest to your balance so that you pay more.