You make a purchase of $600 on a new credit card with. Yearly interest rate of 12%!you make a large payment your first month of 200 what is the credit cards balance before you make the payment
To calculate the balance before making the payment, we need to calculate the interest charged on the purchase amount of $600.
Interest = Principal x Rate
Interest = $600 x 0.12
Interest = $72
So, the total balance on the credit card before making the payment would be:
$600 (purchase amount) + $72 (interest) = $672
Therefore, the credit card balance before making the payment of $200 would be $672.