Suppose you have a balance of $4,300 on your credit card, which charges interest at an APR of 23%, compounded monthly. If the credit card company allows you to suspend your
payments for one year due to financial hardship, but continues to charge interest, what will the balance on your card be at the end of the year?
Ο $5,400.21
Ο $5,009.99
Ο $5,889.34
Ο $5,718.73
None of the above.