You have a balance of $500 on a credit card with a monthly interest rate of 2%. You make a payment of $15 when you receive your credit card bill. What is the new balance after the payment?(1 point) Responses $525 $525 $475 $475 $495 $495 $505
$485
Calculation:
Original balance: $500
Interest for the month: $500 x 2% = $10
Total amount due: $500 + $10 = $510
Payment made: $510 - $15 = $495
New balance after payment: $495