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30 April, 08:05

You have two credit cards. One has a balance of $3,745.00 at a 6.25% APR and the other has a balance of $1,045.00 and is dependent upon your credit score. Your score is 500. How much total interest is accrued in the first month? Score <500 500-650 651-750 751-800 Rate (APR) 12.75% 10.25% 7.5% 5.75%

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  1. 30 April, 11:33
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    We only know what the rate of one card is, so 3745*.0625 = 234.0625

    $234.06 interest in the first month

    : 3
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