Solve the problem.Tom has a balance of $4261.15 on a credit card with an annual percentage rate (APR) of 13.7%. His credit card requires a minimum monthly payment of 2% of the balance. If he transfers his balance to a credit card with an APR of 9.2% how much more of his first payment would be applied to reduce the principal than if he had not transferred his balance?
A. $19.88 more will be applied to principal
B. $32.67 more will be applied to principal
C. $15.98 more will be applied to principal
D. $52.55 more will be applied to principal
Answer: C
Mathematics
You might also like to view...
Set up an integral for the length of the curve.x = y2 + 7y, 0 ? y ? 7
A. 
B. 
C. 
D. 
Mathematics
Find the sum of the series.
A. 
B. 7
C. 14
D. 
Mathematics
Find the exact value of the expression.sin 25° cos 35° + cos 25° sin 35°
A. 
B. 
C. 
D. 
Mathematics
Use the quadratic formula to solve the equation.x2 - 
x = - 
A. {
, 
}
B. 
C. 
D. {
, 
}
Mathematics