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Mathematics 15 Online
OpenStudy (anonymous):

Linda received a credit card through the mail. The interest rate charged by the credit card company is 24.9%. If she maintains an average balance of $2,400 owed on the card, how much will she have paid in interest after one year?

OpenStudy (anonymous):

wouldnt i multiply 2400 by 0.249 by 1??????

OpenStudy (ivettef365):

I = Prt

OpenStudy (anonymous):

right

OpenStudy (ivettef365):

I = interest P = principal r = rate t = time

OpenStudy (anonymous):

right

OpenStudy (anonymous):

Interest due = 24.9% of 1800 = 1800*24.9/100 = 448.20

OpenStudy (ivettef365):

yes you are right

OpenStudy (anonymous):

ok thank you

OpenStudy (ivettef365):

yw :)

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