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Kruka [31]
2 years ago
5

3. If the typical balance on Lucy's credit card is $650 and the interest rate (APR) on her credit card is 18%, how much in inter

est would you expect Lucy to be charged in a typical month?
Mathematics
1 answer:
Hitman42 [59]2 years ago
3 0
First we convert the percentage to a decimal number.  18% means 18 out of 100, so 18/100 = 0.18.  Since this is a yearly percentage and we want a monthly, we then divide this by 12.  0.18/12 = 0.015.  Next we multiply her typical balance, $650, by this decimal.  650(0.015)=$9.75 in interest for that month.
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