Ask Question
26 February, 21:30

find the monthly interest payment in the situation described below the song that the monthly interest rate is 1/12 of the annual interest rate you have a average balance of 1,000.00 on your credit card and it carries a 18% annual interest rate

+2
Answers (1)
  1. 26 February, 22:31
    0
    Answer: Your average monthly interest rate is0.18/12 = 0.015. So your average monthly interest is0.015*$850 = $12.75. Then the annual interest payments would be 12*$12.75 = $153
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “find the monthly interest payment in the situation described below the song that the monthly interest rate is 1/12 of the annual interest ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers