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Vedmedyk [2.9K]
2 years ago
7

After making a payment, a person is left with a credit card balance of $315. How much interest will be charged after 18 months i

f the interest rate is 1.5% per year? Round to the nearest cent. Please explain how you answer step by step!!
Mathematics
1 answer:
krek1111 [17]2 years ago
5 0

Answer:

A = P (1 + i)^n      A is the final amount

                            P is the initial amount

                            i = interest / period

                            n = number of periods

A = 315 * (1 + .015)^1.5 = 322.11

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