Question

Bank Card is charging 1.4% monthly interest on credit card charges. If you charged a $175 pair of running shoes on the card and did not pay it off this month, what would be the interest for the shoe charge?

Answer 1

You could do 175(.014)
This would be multiplying the total cost by the interest rate.
175(.014)= 2.45
Then you would add the total cost on to this.
175+ 2.45= 177.45
I hope this helps.