A credit card company charges 24.99% annually for its interest rate. There is a a 2450 balance.how much interest would be charge

Question

nevsk [136]

3 years ago

8

A credit card company charges 24.99% annually for its interest rate. There is a a 2450 balance.how much interest would be charge

d in dollars?

Mathematics

1 answer:

BaLLatris [955] · Answer 1 · 2022-07-28T19:30:43+03:00

A credit card company charges 24.99% annually for its interest rate

Total balance = 2450

we have to find the interest which would be charged in dollars

So to find the interest which would be charged in dollars we have to multiply total balance by the interest rate which is 24.99 and then divide it by hundred

so our interest comes = 2450*24.99/100 which comes out to be 612.255