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10 August, 04:03

At the Penalty APR rate of 28.99% and a balance of about $1800, approximately how much interest would you owe in one month?

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  1. 10 August, 04:47
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    you owe $43.47 in one month

    Explanation:

    Daily Interest (for one month) = Balance * APR rate * [number of month / Total month in a year]

    Daily Interest = $1800 * 28.99% * 1/12

    = $1800 * 0.2899 * 0.0833

    = $43.47
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