Question

suppose you purchase 2500 worth of flooring on an account charge of 2.9654% interest per month on the account balance. Find the interest charge added to the account balance at the end of the first second and third months

Answer 1

Month 1 interest is $74.14, for a balance of $2,574.14.

Month 2 interest is $76.33, for a balance of $2,650.47.

Month 3 interest is $78.60, for a balance of $2,729.07.