if during a given month your average daily credit card balance is 800 and your yearly interest rate is 17%, how much interest do

Question

slava [35]

2 years ago

10

if during a given month your average daily credit card balance is 800 and your yearly interest rate is 17%, how much interest do

you owe on your credit card for that month

Mathematics

2 answers:

lesya692 [45] · Answer 1 · 2022-08-27T13:21:30+03:00

lesya692 [45]2 years ago

8 0

Hi there

Interest you owe=
Average daily balance×monthly rate
Interest you owe
800×(0.17÷12)=11.33

Hope it helps

Vlad [161] · Answer 2 · 2022-08-27T11:07:44+03:00

Vlad [161]2 years ago

6 0

If during a given month your average daily credit card balance is $800 and your yearly interest rate is 17%, then the interest you owe on your credit card for that month would be: $11.33