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Sarah has a credit card balance of ​$2000. the credit card company charges 11​% per annum simple interest. what is the interest charge on sarah​'s credit card after 1​ mont…

Sarah has a credit card balance of ​$2000. the credit card company charges 11​% per annum simple interest. what is the interest charge on sarah​'s credit card after 1​ mont…
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Sarah has a credit card balance of ​$2000. the credit card company charges 11​% per annum simple interest. what is the interest charge on sarah​'s credit card after 1​ month?

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User Heikki Toivonen
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1 Answer

6 votes
The interest charge would be $18.33.
11% of $2000 Is $220. $220 Is your total value of interest each year. Divide this by 12 (months per calender year) to get your interest charge for 1 month.
answered
User Yazabara
by
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