The balance will be 75 dollars.
Because August is the month in which her annual fee for her credit card charges and she only paid 45 dollars which is for the annual fee. The 75 dollars that she purchased is not yet paid.
Answer:
7
Step-by-step explanation:
Answer:
Base amount: $2,410.00
Interest Rate: 12% (yearly)
Effective Annual Rate: 12.68%
Calculation period: 3 years
$3,448.15
Step-by-step explanation:
The generic formula used in this compound interest calculator is
V = P(1+r/n)^(nt)
V = the future value of the investment
P = the principal investment amount
r = the annual interest rate
n = the number of times that interest is compounded per year
t = the number of years the money is invested for