Question

Tran has a credit card with a spending limit of $2000 and an APR (annual percentage rate) of 12%. During the first month, Tran charged $450 and paid $150 of that in his billing cycle. Which expression will find the amount of interest Tran will be charged after the first month?

Answer 1

Step-by-step explanation:

Given data:

Tran has a credit card with a spending limit of $2000 and an APR (annual percentage rate) of 12%.

During the first month, Tran charged $450 and paid $150 of that in his billing cycle.

The expression which will find the amount of interest Tran will be charged after the first month is (0.012)(300)

Here 0.01 because it is 1 month tax.

300 is remaining amount as Tran used $450 but paid $150.