Question

Shirley has a credit card that uses the previous balance method. The opening

Answer 1

Answer:

= $44.19

Step-by-step explanation:

APR = 19%

Billing cycle = 30 days

Balance = $2830

Let's first find the daily rate,

Daily rate =  $\frac{0.19}{365} = 0.000521$

The daily rate = 0.000521

To calculate the amount Shirley was charged interest for the billing cycle, we use:

Daily rate * billing cycle * balance

Where,

Daily rate

=  $\frac{0.19}{365}$

Billing cycle = 30 days

Balance = $2830

Therefore, expression to be used =

$(\frac{0.19}{365} * 30) * 2830 \\= 44.19$

Answer 2

Answer:

0.19× 2830

Step-by-step explanation:

APR= APR rate×total expenditure/100