Find the monthly finance charge (interest payment) in the situation described. You maintain an average balance of $2125 on your credit card, which carries a 24% annual interest …

Question

asked Jul 20, 2022 119k views

1 Answer

Usman Imtiaz · Answer 1 · 2022-07-26T13:51:38+0000

Answer:

30

days

The finance charge for a billing cycle is $41.92.

The new opening balance in the following billing cycle is $2,166.92.

THE MONTHLY CHARGE IS 41.92

Step-by-step explanation: