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Mortgages and Home Ownership — Unit test

Question 1 • Financial Literacy (WMHS) - Semester 1

This table can be used to organize Gigi’s credit card balances and payments over 6 months. The annual percentage rate on the credit card is 14%.Gigi’s Credit Card PaymentsMonthBalancePaymentInterest RateInterest Charged1$650$3000.01167$4.082$354.08$500.01167 3$307.63$500.01167 4$260.64$500.01167 5$213.10$500.01167 6$165$500.01167 What is the amount of interest charged for the first 6 months?$

Answer
A
16.34
B
17.34
C
18.34
D
19.34
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