Norma's credit card has an APR of [tex]16 \%[/tex], calculated on the previous monthly balance, and a minimum payment of [tex]2 \%[/tex], starting the month after the first purchase. Her credit card record for the last 7 months is shown in the table below.

\begin{tabular}{ccccccc}
\hline
\begin{tabular}{c}
End of \\ month
\end{tabular} &
\begin{tabular}{c}
Previous \\ balance
\end{tabular} &
\begin{tabular}{c}
New \\ charges
\end{tabular} &
\begin{tabular}{c}
Payment \\ received
\end{tabular} &
\begin{tabular}{c}
Finance \\ charges
\end{tabular} &
\begin{tabular}{c}
Principal \\ paid
\end{tabular} &
\begin{tabular}{c}
New \\ balance
\end{tabular} \\
\hline
1 & [tex]$\$[/tex] 0.00[tex]$ & $[/tex]\[tex]$ 3300.00$[/tex] & [tex]$\$[/tex] 0.00[tex]$ & $[/tex]\[tex]$ 0.00$[/tex] & [tex]$\$[/tex] 0.00[tex]$ & $[/tex]\[tex]$ 3300.00$[/tex] \\
2 & [tex]$\$[/tex] 3300.00[tex]$ & $[/tex]\[tex]$ 0.00$[/tex] & [tex]$\$[/tex] 66.00[tex]$ & $[/tex]\[tex]$ 44.00$[/tex] & [tex]$\$[/tex] 22.00[tex]$ & $[/tex]\[tex]$ 3278.00$[/tex] \\
3 & [tex]$\$[/tex] 3278.00[tex]$ & $[/tex]\[tex]$ 0.00$[/tex] & [tex]$\$[/tex] 65.56[tex]$ & $[/tex]\[tex]$ 43.71$[/tex] & [tex]$\$[/tex] 21.85[tex]$ & $[/tex]\[tex]$ 3256.15$[/tex] \\
4 & [tex]$\$[/tex] 3256.15[tex]$ & $[/tex]\[tex]$ 0.00$[/tex] & [tex]$\$[/tex] 65.12[tex]$ & $[/tex]\[tex]$ 43.42$[/tex] & [tex]$\$[/tex] 21.71[tex]$ & $[/tex]\[tex]$ 3234.44$[/tex] \\
5 & [tex]$\$[/tex] 3234.44[tex]$ & $[/tex]\[tex]$ 0.00$[/tex] & [tex]$\$[/tex] 64.69[tex]$ & $[/tex]\[tex]$ 43.13$[/tex] & [tex]$\$[/tex] 21.56[tex]$ & $[/tex]\[tex]$ 3212.88$[/tex] \\
6 & [tex]$\$[/tex] 3212.88[tex]$ & $[/tex]\[tex]$ 0.00$[/tex] & [tex]$\$[/tex] 64.26[tex]$ & $[/tex]\[tex]$ 42.84$[/tex] & [tex]$\$[/tex] 21.42[tex]$ & $[/tex]\[tex]$ 3191.46$[/tex] \\
7 & [tex]$\$[/tex] 3191.46[tex]$ & $[/tex]\[tex]$ 0.00$[/tex] & [tex]$\$[/tex] 63.83[tex]$ & $[/tex]\[tex]$ 42.55$[/tex] & [tex]$\$[/tex] 21.28[tex]$ & $[/tex]\[tex]$ 3170.18$[/tex] \\
\hline
\end{tabular}

What is the total amount that Norma has made in payments over the 7 months?

A. [tex]$\$[/tex] 259.64[tex]$

B. $[/tex]\[tex]$ 389.46$[/tex]

C. [tex]$\$[/tex] 68.83[tex]$

D. $[/tex]\[tex]$ 129.82$[/tex]



Answer :

To determine the total amount of payments Norma has made over the 7 months, we need to sum up all the payments she made each month, as specified in the "Payment received" column of the table.

1. The payment received at the end of month 2 was [tex]$\$[/tex]66.00[tex]$. 2. The payment received at the end of month 3 was $[/tex]\[tex]$65.56$[/tex].
3. The payment received at the end of month 4 was [tex]$\$[/tex]65.12[tex]$. 4. The payment received at the end of month 5 was $[/tex]\[tex]$64.69$[/tex].
5. The payment received at the end of month 6 was [tex]$\$[/tex]64.26[tex]$. 6. The payment received at the end of month 7 was $[/tex]\[tex]$63.83$[/tex].

Now, let’s add these payments together:
[tex]\[ 66.00 + 65.56 + 65.12 + 64.69 + 64.26 + 63.83 = 389.46000000000004 \][/tex]

Therefore, the total amount that Norma has made in payments over the 7 months is:

[tex]\[ \boxed{389.46} \][/tex]

So, the correct answer is B. \$389.46.