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Jobisdone [24]
4 years ago
5

Manuel has a remaining balance of $563 on his credit card. his credit card company has an apr of 15 percent. how much will manue

l pay in interest for one month? $7.04 $84.50 $15 $1.25
Advanced Placement (AP)
2 answers:
Sonja [21]4 years ago
7 0

Answer:

$7.04

Explanation:

As the annual percentage rate (APR) is 15%, you will have to divide this number by 12 to get the monthly rate:

15%/12= 1,25%

Now, you have to multiply the balance on the credit card for the monthly rate to get the amount that Manuel will have to pay in interest for one month:

$563*1,25%= $7.04

Andrej [43]4 years ago
3 0
It might be $7.04??????
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