Register

Danielle opens a credit card with an APR of 22.79% compounded monthly. How much is charged in interest this month if her balance is $1550?

Danielle opens a credit card with an APR of 22.79% compounded monthly. How much is charged in interest this month if her balance is $1550?
asked 217k views
3 votes
Danielle opens a credit card with an APR of 22.79% compounded monthly. How much is charged in interest this month if her balance is $1550?

asked
User Petrhaus
by
8.1k points

1 Answer

2 votes
1550 * 0.2279 / 12 ( monthly interest is 1/12 of APR)

= $29.43
answered
User Chrki
by
8.0k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
Link Copied!