tiggerbaby2008p7rh4i tiggerbaby2008p7rh4i

13-10-2019
Mathematics

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Find the monthly interest payment in the situation described below. Assume that the monthly interest rate is 1 divided by 12 of the annual interest rate.
You maintain an average balance of $900 on your credit card, which carries a 12% annual interest rate.

Respuesta :

jcherry99 jcherry99

13-10-2019

Answer:

Step-by-step explanation:

i = P * r * t

i = 900 * 12%/12 * 1

i = 900 * 1% = 900 * 1/100

i = 9 dollars.

You'll pay 9 dollars a month to maintain that balance.

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