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Ronnie has a credit card that uses the previous balance method. the opening balance of one of his 30-day billing cycles was $4790, but that was his balance for only the first 4 days of the billing cycle, because he then paid off his entire balance and didn't make any new purchases. if his credit card's apr is 15%, which of these expressions could be used to calculate the amount ronnie was charged in interest for the billing cycle?

Respuesta :

((0.15/3650 (30)) (4790)
anthougo

The expression that could be used to calculate the amount Ronnie was charged in interest for the billing cycle is (0.15/365  x 30 x $4,790).

What is interest?

Interest refers to the finance charge that is levied on a loan or credit card balance.

It is computed by applying the interest rate to the amount of the loan or balance based on the period of use.

Data and Calculations:

Beginning balance = $4,790

Billing cycle = 30 days

APR = 15%

Interest = $ ($4,790 x 15% x 30/365)

Thus, the expression that could be used to calculate the amount Ronnie was charged in interest for the billing cycle is (0.15/365  x 30 x $4,790).

Learn more about computing credit card interests at https://brainly.com/question/4403314

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