anisaavalos03 anisaavalos03
  • 20-01-2018
  • Mathematics
contestada

William opens a credit card with an APR of 18.63% compounded monthly. How much is charged in interest this month if his balance is $835?

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amydagamer18 amydagamer18
  • 20-01-2018
I think you find 18.63% of $835 and then you get your answer. I am pretty sure it is $155.56, hope this helps.
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lexyjordan
lexyjordan lexyjordan
  • 10-03-2021

Answer:

$12.96

Step-by-step explanation:

I = P  x  (1+r/100)^n - P

P = 835, n=1, r=(18.63/12)% per month

I = 835 x (1+0.015525)^1

    - 835                          

I = $12.96

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