If Susan had no previous balance on her credit card, and she manages to pay off the balance within 1 month, how much will she ha ve to pay in interest?
2 answers:
Answer:
She will pay $5.33 in interest.
Explanation:
200 dollars at a 32% interest rates means that the interest accrued for the full year will be:
200*0.32 = 64 dollars
Since she is managing to pay her balance within one month, she will only be charged for that month, hence her interest payment will be:
64/12 = 5.33 dollars
<span>If Susan had no previous balance on her credit card, and she manages to pay off the balance within 1 month, then, there will be no interest charged in her account. It is in the credit card's privilege that if you are a good payer and you pay before your due date, then you will have 0% interest.</span>
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A, seek advice from others about the situation.
